Gas Prices Edge Higher for Second Week as Seasonal Pressures Build

The nation’s average price of gasoline has risen 2.6 cents over the last week and stands at $2.84 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 up 4.9 cents from a month ago and is 24.5 cents per gallon lower than a year ago. The national average price of diesel rose 1.0 cents in the last week and stands at $3.624 per gallon.

“The national average price of gasoline continues to grind higher, and while the pace of increases remains modest for now, upward momentum could accelerate in the coming weeks as refinery maintenance intensifies and the broader transition to summer gasoline begins,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, supply-side dynamics could temper that seasonal pressure. If OPEC+ proceeds with resuming production increases following its first-quarter pause, additional barrels could cap crude oil’s upside and limit the magnitude of the spring rally at the pump. That said, geopolitical tensions—particularly between the U.S. and Iran—remain an unpredictable variable, injecting risk into the outlook and leaving prices vulnerable to sudden shifts.”

OIL MARKET DYNAMICS

Oil markets saw little net change over the last week as traders remained focused on nuclear talks between Iran and the United States, leaving crude prices largely range-bound as the market waits for clarity. In early Monday trade, a barrel of WTI crude was up 9 cents to $62.98 per barrel, slightly below last Monday’s $63.58 opening, while Brent was also up 9 cents to $67.84 per barrel, down from $68.07 a week ago. Prices continue to be supported by relatively modest oil inventory builds so far this year, even as expectations for rising supply from OPEC+ and non-OPEC producers act as a counterweight to further gains. “Oil prices remain supported with modest oil inventory builds so far this year,” said UBS commodities analyst Giovanni Staunovo, via e-mail. “Market players will closely track the outcome of the talks between the U.S. and Iran, which could determine whether crude breaks higher or remains range-bound in the weeks ahead.”

OIL AND REFINED PRODUCT SUPPLIES

The EIA’s Weekly Petroleum Status Report for the week ending February 6, 2026, showed U.S. oil inventories rose by 8.5 million barrels and are about 3% below the seasonal average for this time of year, while the SPR was unchanged at 415.2 million barrels. Gasoline inventories rose by 1.2 million barrels and are about 4% above the five-year seasonal average, while distillate inventories fell by 2.7 million barrels and are about 4% below the five-year seasonal average. Refinery utilization fell 1.0 percentage points to 89.4%, while implied gasoline demand, the EIA’s proxy for retail demand, rose 147,000 bpd to 8.300 million barrels per day.

GAS PRICE TRENDS

The most common U.S. gas price encountered by motorists stood at $2.79 per gallon, up 20 cents from last week, followed by $2.89, $2.69, $2.59, and $2.99, rounding out the top five most common prices.

The median U.S. gas price is $2.77 per gallon, up 3 cents from last week and about 10 cents lower than the national average.

The top 10% of stations in the country average $4.25 per gallon, while the bottom 10% average $2.28 per gallon.

The states with the lowest average prices: Oklahoma ($2.25), Arkansas ($2.43), and Louisiana ($2.43).

The states with the highest average prices: California ($4.50), Hawaii ($4.33), and Washington ($4.07).

Biggest weekly changes: Michigan (+12.1¢), Oregon (+10.1¢), Iowa (-9.3¢), Utah (-8.5¢), New Mexico (-8.1¢).

DIESEL PRICE TRENDS

The most common U.S. diesel price stood at $3.39 per gallon, down 10 cents from last week, followed by $3.49, $3.59, $3.29, and $3.69, rounding out the top five most common prices.

The median U.S. diesel price is $3.49 per gallon, up 10 cents from last week and about 13 cents lower than the national average.

Diesel prices at the top 10% of stations in the country average $4.48 per gallon, while the bottom 10% average $3.01 per gallon.

The states with the lowest average diesel prices: Louisiana ($3.11), Oklahoma ($3.15), and Texas ($3.18).

The states with the highest average diesel prices: Hawaii ($5.15), California ($4.98), and Washington ($4.73).

Biggest weekly changes: Wyoming (+11.3¢), Michigan (+9.6¢), Florida (-8.2¢), Maine (+7.9¢), New Mexico (+7.6¢).