As the new year inches closer, motorists continue to receive a reprieve at the pump with gasoline prices dropping for the fifth consecutive week. The national average for a gallon of gas now stands at $2.75, a 4-cent decrease over the past week, and Baltimore drivers are reaping similar benefits. According to a recent survey by GasBuddy, the average in Baltimore has fallen to $2.69, with some stations offering fuel as low as $2.34 per gallon, as detailed by FOX Baltimore.
Across the state of Maryland, the lowest gas price plummeted to $2.34 per gallon, glimpsing a notable variance, with the highest at a steeper $3.89 per gallon. GasBuddy's data, which aggregates fuel costs from various stations, indicates the spread to be a substantial $1.55. Diesel isn't being left behind, reflecting a decrease of 5.4 cents, landing at an average of $3.521 per gallon on a national level. Drivers are ending the year on a high note where fuel savings are concerned.
In terms of regional price trends, Marylanders are faring better than some of their neighbors. The nation's capital recorded a drop of 5.8 cents, with Washington, D.C.'s average price settling at $3.08 per gallon, while York experienced a decline of 3.7 cents, reaching an average of $3.06 per gallon. These figures, provided by GasBuddy, showcase the recent trend of falling fuel expenses that is prevalent across most of the country.
Concurrently, northeastern Baltimore County spots such as Bowleys Quarters and Carney, among others, have been identified as locales where drivers can find the week's cheapest gas prices, per a report by NottinghamMD. While the global oil market remains volatile, market analysts keep a keen eye on geopolitical dynamics, such as the Russia-Ukraine conflict, which have recently stirred fluctuations in crude prices. However, with gasoline inventories up and demand robust, the U.S. refinery output continues to play a pivotal role in moderating pump prices.
