US Gasoline Pump Price Falls for Second Week: GasBuddy

The US national average for gasoline prices has fallen by 3.5 cents/gal on the week to $3.77/gal, the second consecutive weekly decline, according to GasBuddy.

• “While this week saw average gasoline prices moving higher again in the West, most of the nation saw a noticeable decline in gasoline prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
• “However, with California allowing the transition to winter gasoline to begin immediately, easing supply concerns, we’re likely to see nearly the entire country see gasoline prices trend lower in the week ahead,” De Haan added.
• According to De Haan, prices in California – the state with the most expensive gasoline – should retreat below $6/gal once refinery issues and maintenance are resolved and could be under $5/gal by 2023 year-end.
• Although supply disruptions could temporarily add support, US gasoline prices are now on a downward trajectory, De Haan said.