Posted on 06/03/24
| News Source: FOX45
Baltimore, MD - June 3, 2024 - Gas prices in Baltimore have dropped 7 cents per gallon in the past week, according to GasBuddy's new survey.
Prices in Baltimore are 6.5 cents per gallon lower than a month ago and stand 17.6 cents per gallon higher than a year ago.
The national average price of diesel has fallen 1.8 cents in the last week and stands at $3.82 per gallon.
"The calendar has closed on May, and so too has the door closed on rising gas prices, with the national average declining to its lowest level since March. Thankfully, gas prices are unlikely to be moved by OPEC's meeting and agreement to extend production cuts into 2025, leading the national average to fall below $3.50 in the next week," said Patrick De Haan, head of petroleum analysis at GasBuddy. "With GasBuddy data showing gasoline demand plummeting after Memorial Day, and refiners inputting the largest amount of oil into their facilities in years, it's very likely we'll continue to see gas prices fall as we approach July 4. Diesel prices also continue to decline to their lowest level in nearly 11 months. The future looks bright for falling fuel prices across the board, though we'll have to keep our eyes on hurricane season."
According to GasBuddy price reports, the cheapest station in Baltimore was priced at $3.09/g yesterday while the most expensive was $3.89/g, a difference of 80.0 cents per gallon.
The lowest price in the state yesterday was $3.09/g while the highest was $4.29/g, a difference of $1.20/g.
The national average price of gasoline has fallen 5.8 cents per gallon in the last week, averaging $3.50/g today.
The national average is down 15.9 cents per gallon from a month ago and stands 1.9 cents per gallon lower than a year ago, according to GasBuddy data.