Gas Prices Dip in Most States for 2nd Straight Week

For the second straight week, the nation’s average price of gasoline has declined, falling 5.3 cents compared to a week ago and stands at $3.09 per gallon, 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 1.1 cents from a month ago and is 37.4 cents per gallon lower than a year ago. The national average price of diesel has decreased 3.2 cents in the last week and stands at $3.644 per gallon.

“Nearly every state saw average gas prices decline for the second straight week, even as the nation celebrated July 4 with the lowest national average for Independence Day since 2020,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “That downward momentum may continue, as OPEC’s weekend decision to boost production by a larger-than-expected 548,000 barrels per day in August adds further pressure to oil prices — potentially accelerating supply builds. If tensions in the Middle East remain contained and the Gulf is spared from major hurricanes, the odds are improving that the national average could dip below $3 per gallon later this summer, but in the meantime, we could see the national average falling to its lowest summer level since the pandemic.”

OIL PRICES

After OPEC’s weekend meeting that saw the organization raise oil production by over half a million barrels per day, oil prices remained steady. After falling over 1% in Sunday night trade, oil had clawed back the dips and was trading little changed, up 2 cents to $67.02 for WTI crude early Monday, up from last Monday’s $65.44 per barrel level. Brent was trading up by 46 cents in early Monday trade to $68.76 per barrel, up from last Monday’s $67.74 fetch. The increase in output comes alongside U.S. President Donald Trump making new trade deals while providing a stark warning for countries that have not yet finalized a deal, which could send oil markets lower if no new deals are made.

OIL AND REFINED PRODUCT SUPPLIES

The EIA’s Weekly Petroleum Status Report for the week ending June 27, 2025, showed U.S. oil inventories rose by 3.8 million barrels, and are about 9% below the seasonal average for this time of year, while the SPR rose 200,000 barrels to 402.8 million. Gasoline inventories rose by 4.2 million barrels and stand 1% below the five-year seasonal average, while distillate inventories fell 1.7 million barrels and are about 21% below the five-year seasonal average. Refinery utilization rose 0.2 percentage points to 94.9%, while implied gasoline demand, EIA’s proxy for retail demand, fell 1,048,000 bpd to 8.640 million barrels per day.

GAS PRICE TRENDS

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.89, $2.79, $3.09, and $3.19, rounding out the top five most common prices.

The median U.S. gas price is $2.99 per gallon, unchanged from last week and about 10 cents lower than the national average.

The top 10% of stations in the country average $4.39 per gallon, while the bottom 10% average $2.50 per gallon.

The states with the lowest average prices: Oklahoma ($2.63), Texas ($2.65), and Mississippi ($2.66).

The states with the highest average prices: California ($4.50), Hawaii ($4.48), and Washington ($4.34).

Biggest weekly changes: Indiana (-12.0¢), Ohio (-11.7¢), Michigan (-10.8¢), Colorado (-10.3¢), South Carolina (-9.6¢)

DIESEL PRICE TRENDS

The most common U.S. diesel price stood at $3.49 per gallon, down 20 cents from last week, followed by $3.59, $3.69, $3.39, and $3.29, rounding out the top five most common prices.

The median U.S. diesel price is $3.55 per gallon, down 4 cents from last week and about 9 cents lower than the national average.

Diesel prices at the top 10% of stations in the country average $4.71 per gallon, while the bottom 10% average $3.01 per gallon.

The states with the lowest average diesel prices: Texas ($3.14), Mississippi ($3.24), and Louisiana ($3.24).

The states with the highest average diesel prices: Hawaii ($5.26), California ($5.09), and Washington ($4.91).

Biggest weekly changes: Florida (-9.0¢), Idaho (+8.5¢), Colorado (-8.0¢), Alaska (+7.5¢), Connecticut (+5.6¢)