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US Gasoline Prices Continue Decline: GasBuddy

OIL PRODUCTS

US gasoline pump prices are continuing their decline, both compared to the previous week and against the average in 2022, according to GasBuddy data.

  • Gasoline prices across the US average $3.49/gal, down 5.2 cents/gal on the previous week’s average.
  • Gasoline prices are now 27 cents/gal lower than the average price across 2022.
  • California remains the state with the most expensive gasoline retail prices at $5.30/gal. However, California has seen the largest fall in prices compared to last week’s average, with a fall of 19.1 cents/gal.
  • Prices are lowest in Mississippi at $2.957/gal.
  • In the latest EIA weekly report, gasoline inventories saw a build of 0.2m bbl, putting the 7.5% higher than the same period in 2022.
  • Implied gasoline demand in the US was 8.86m b/d down 80k b/d on the week.

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