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FOX45: Baltimore gas prices drop slightly amid national concerns over oil spikes

October 7, 2024 by The Baltimore Sun

The average gas prices in Baltimore dropped 1.6 cents a gallon in the past week, averaging $3.22 a gallon Monday, according to a recent survey from GasBuddy, an app that helps users find gas stations.

Prices in Baltimore are 8.3 cents per gallon higher than a month ago and stand 12.9 cents per gallon lower than a year ago.

The national average price of diesel is unchanged from a week ago and stands at $3.54 per gallon.

“While the national average dipped slightly in the last week, Iran’s attack on Israel has at least temporarily caused oil prices to surge to the highest level in months, which could cause the declines to cease for now and could lead to a rise in gas prices for many Americans,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

He also cited hurricane season as a factor. “As a result of potential evacuations, GasBuddy’s Fuel Availability tracker will remain online for areas likely to be affected by Milton. For now, motorists in most areas can expect to see more increases in gas prices primarily due to tensions in the Middle East, but I remain hopeful that a $2.99 national average remains possible this fall,” De Haan said.

According to GasBuddy price reports, the cheapest station in Baltimore was priced at $2.76 a gallon Sunday, while the most expensive was $3.59 a gallon.

The lowest price in the state yesterday was $2.75 a gallon, while the highest was $3.99 a gallon.

The national average is down 11.6 cents per gallon from a month ago and stands 56.2 cents per gallon lower than a year ago, according to GasBuddy data.

Filed Under: University of Maryland

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