Gasoline prices in Maryland have decreased by 10.7 cents per gallon over the past week, bringing the average to $3.35 per gallon, according to GasBuddy’s survey of 2,167 local stations. This marks a 15.4-cent drop from a month ago and a 43.9-cent decrease compared to last year. Diesel prices nationwide have also fallen, down 2.6 cents in the past week to an average of $3.69 per gallon, the lowest in nearly three years.
GasBuddy’s report shows significant price variation across Maryland, with the lowest price recorded at $2.99 per gallon and the highest at $3.99 per gallon, a $1 per gallon difference.
On the national level, gasoline prices have dropped 4.2 cents in the last week, averaging $3.37 per gallon. This is an 11.4-cent decrease from the previous month and a 47.8-cent drop from a year ago. The data, compiled from over 11 million weekly price reports at more than 150,000 stations across the U.S., reflects a broader trend of declining fuel prices.
Historical gasoline prices in Maryland and the national average over the past decade:
August 19, 2023: $3.79 per gallon (U.S. Average: $3.84 per gallon)
August 19, 2022: $3.89 per gallon (U.S. Average: $3.89 per gallon)
August 19, 2021: $3.04 per gallon (U.S. Average: $3.16 per gallon)
August 19, 2020: $2.25 per gallon (U.S. Average: $2.17 per gallon)
August 19, 2019: $2.55 per gallon (U.S. Average: $2.60 per gallon)
August 19, 2018: $2.79 per gallon (U.S. Average: $2.82 per gallon)
August 19, 2017: $2.30 per gallon (U.S. Average: $2.32 per gallon)
August 19, 2016: $2.11 per gallon (U.S. Average: $2.15 per gallon)
August 19, 2015: $2.52 per gallon (U.S. Average: $2.66 per gallon)
August 19, 2014: $3.42 per gallon (U.S. Average: $3.44 per gallon)
Gas prices in neighboring areas are also on the decline:
Baltimore: $3.31 per gallon, down 13.3 cents from last week’s $3.44 per gallon.
Washington, D.C.: $3.59 per gallon, down 8.2 cents from last week’s $3.67 per gallon.
Hagerstown: $3.32 per gallon, down 6.8 cents from last week’s $3.39 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributed the drop in prices to decreased summer demand and lower consumption in other oil-consuming nations. “As summer ends and we approach Labor Day, gasoline and diesel prices are likely to continue falling. With no major disruptions in the Middle East and Hurricane Ernesto staying away, prices could keep decreasing. As schools resume and the transition to winter gasoline begins, prices should ease further, matching the cooling temperatures,” De Haan said.