(9-10-24) According to GasBuddy® data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is down 22.5 cents from a month ago and is 58.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 4.5 cents in the last week and stands at $3.62 per gallon—the lowest since early 2022.

Patrick De Haan, head of petroleum analysis at GasBuddy

“Impressively, for the sixth straight week, gas prices have dropped to their lowest since winter. GasBuddy now counts 11 states and over 45,000 stations with gas prices below $3 per gallon. We fully expect gas prices will continue to drop as Americans drive less with the onset of fall. With oil prices falling below $70 per barrel, their lowest since 2021, there’s solid room for gas prices and diesel to continue falling for some time. We expect the national average could fall below $3 per gallon as early as October for the first time since 2021, which would be music to the ears of motorists and certainly to politicians who are angling to be elected this fall.”

FUEL DEMAND

According to GasBuddy demand data driven by its Pay with GasBuddy™ fuel card, U.S. retail gasoline demand saw a fall of 3.8% for the week ending September 7 (Sun-Sat). Broken down by PADD region, demand fell 2.8% in PADD 1, fell 4.0% in PADD 2, fell 6.1% in PADD 3, fell 2.6% in PADD 4, and fell 3.3% in PADD 5. GasBuddy models U.S. gasoline demand at 8.79 million barrels per day.

GAS PRICE TRENDS
The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, down 20 cents from last week, followed by $3.09, $3.19, $3.29, and $2.89 rounding out the top five most common prices.

The median U.S. gas price is $3.09 per gallon, down 10 cents from last week and about 13 cents lower than the national average.

The top 10% of stations in the country average $4.42 per gallon, while the bottom 10% average $2.63 per gallon.

The states with the lowest average prices: Oklahoma ($2.73), Mississippi ($2.74), Louisiana ($2.77).

The states with the highest average prices: California ($4.62), Hawaii ($4.61), and Washington ($4.08).

Biggest weekly changes: Ohio (-16.8¢), Florida (-14.5¢), Michigan (-11.8¢), South Carolina (-11.6¢), Kentucky (-11.5¢)