Gasoline prices have jumped across all 50 states, GasBuddy noted in a blog posted on its website on Monday.
In the blog, GasBuddy revealed that, according to its data, the average U.S. price of gasoline had risen 38.2 cents over the last week and stood at $4.42 per gallon.
“The national average is up 32.6 cents from a month ago and is $1.31 per gallon higher than a year ago,” GasBuddy stated in the blog.
According to the blog, the most common U.S. gas price encountered by motorists was $3.99 per gallon, “unchanged from a week ago”. This was followed by $4.39 per gallon, $4.19 per gallon, $3.89 per gallon, and $4.49 per gallon, the blog revealed.
“The median U.S. gas price is $4.29 per gallon, up 40 cents from last week and about 13 cents lower than the national average,” the blog noted.
“The top 10 percent of stations in the country average $5.77 per gallon, while the bottom 10 percent average $3.70 per gallon,” it added.
According to the blog, the states with the lowest average prices were Georgia, at $3.83 per gallon, Oklahoma, at $3.87 per gallon, and Louisiana, at $3.87 per gallon. The states with the highest average prices were California, at $6.07 per gallon, Washington, at $5.62 per gallon, and Hawaii, at $5.59 per gallon, the blog showed.
The biggest weekly changes were seen in Indiana, with a rise of 83.3 cents, Ohio, with a rise of 78.1 cents, Michigan, with a rise of 68.0 cents, Illinois, with a rise of 49.3 cents, and Wisconsin, with a rise of 44.8 cents, the blog highlighted.
“Gasoline prices rose in every state over the last week, with some of the most significant and fastest increases concentrated in the Great Lakes, where states like Michigan, Indiana, Ohio, and Illinois saw sharp spikes, while Wisconsin experienced more modest gains,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in the blog.
“At the same time, diesel prices surged to new records in parts of the region, with some areas touching the $6 per gallon mark,” he added.
“While refinery outages were a key driver behind those outsized increases, early signs of improvement could help ease some of the most extreme price pressures in the Great Lakes in the days ahead,” he continued.
“Beyond the region, markets are also digesting a wave of new developments – including OPEC+ raising production for June and President Trump outlining a plan to free stranded ships – which could help restore some supply,” he went on to state.
“However, with so many moving pieces, the outlook remains highly fluid, and while some localized relief may emerge, broader price volatility is likely to persist in the near term,” De Haan warned.
GasBuddy’s blog noted that oil markets “pushed sharply higher over the past week, with prices climbing as geopolitical tensions intensified and supply risks deepened”.
“Looking ahead, volatility is likely to remain elevated,” the blog warned, pointing out that “with diplomatic efforts faltering and tensions showing few signs of easing, traders will continue to react swiftly to geopolitical developments”.
“As long as uncertainty surrounds supply – especially in critical regions and transit routes – oil prices are likely to remain supported, with sharp swings possible as markets navigate an increasingly fragile and headline-driven environment,” GasBuddy went on to state in the blog.
According to the AAA Fuel Prices website, the average price of regular gasoline in the U.S. stood at $4.483 per gallon on May 5. Yesterday’s average was $4.457 per gallon, the week ago average was $4.176 per gallon, the month ago average was $4.110 per gallon, and the year ago average was $3.165 per gallon, the site showed.
The highest recorded average price of regular gasoline was seen on June 14, 2022, at $5.016 per gallon, the AAA Fuel Prices website highlighted.
During the signing of an executive order in the White House Oval Office on April 30, which was streamed live on the White House YouTube page, U.S. President Donald Trump stated that “gas will go down” when one reporter highlighted that the average price of a gallon of gas was $4.30 in the United States.
“As soon as the war is over, it’ll drop like a rock,” he added.
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