Fuel Prices Post 12 Weeks of Decline

Photo by Kayleigh Omang, 2023

For the 12th consecutive week, the nation’s average price of gasoline declined, falling 9.6 cents from a week ago to $3.12 per gallon. The national average is down 23.7 cents from a month ago and 10.1 cents per gallon lower than a year ago. The national average diesel price fell 8.4 cents in the last week and stands at $4.10 per gallon— 86 cents lower than one year ago.

GasBuddy’s Patrick De Haan says, “With nearly 80,000 gas stations in the U.S. now priced below $3 per gallon, and 23 states also seeing average prices of $2.99 or less, motorists are getting substantial relief at the pump in time for the holidays.”

The trend is likely to continue in most states this week, while the national average could soon fall below $3.05 per gallon, the lowest since 2021. Oil prices continue to struggle under the weight of a global economic slowdown, seeing consumption decrease, while oil production has risen in the United States, Canada, and other non-OPEC producers.