Baltimore gas prices fall nearly 40 cents in a week, GasBuddy says

BALTIMORE (WBFF) — Drivers in Baltimore saw a sharp drop at the pump over the past week, even as prices remain well above where they were a year ago.

Average gas prices in Baltimore have fallen 31.9 cents per gallon in the last week, averaging $4.12 per gallon, according to GasBuddy’s survey of 663 stations in the city. Prices are 11.6 cents per gallon lower than a month ago but stand $1.15 per gallon higher than a year ago.

Across the country, the national average price of gas has fallen 19.5 cents per gallon in the last week to $4.26 per gallon, according to GasBuddy data. The national average is down 17.8 cents per gallon from a month ago and is $1.18 per gallon higher than a year ago.

Diesel prices also declined nationally. The national average price of diesel decreased 15.5 cents compared to a week ago and stands at $5.437 per gallon.

In Baltimore, GasBuddy price reports showed the cheapest station was $3.85 per gallon Saturday, while the most expensive was $5.49 per gallon, a difference of $1.64 per gallon. Statewide, the lowest price Saturday was $3.59 per gallon and the highest was $5.69 per gallon, a difference of $2.10 per gallon.

Neighboring areas also saw declines. Washington, D.C., averaged $4.52 per gallon, down 12.1 cents from last week’s $4.64 per gallon. York averaged $4.33 per gallon, down 12.9 cents from last week’s $4.46 per gallon.

“Average gasoline prices declined in all 50 states over the last week, with GasBuddy now tracking 15 states where the average price of gasoline has fallen below $4 per gallon, offering motorists some of the most widespread relief seen in weeks,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

De Haan said the drop was tied to lower oil prices and easing concerns about global supply. “Much of the decline was driven by falling oil prices and the unwinding of recent price cycles, as growing optimism surrounding a potential U.S.-Iran agreement helped ease concerns over global oil supplies,” he said.

He cautioned that the outlook remains uncertain. “However, the coast is anything but clear,” De Haan said, adding that oil prices edged higher Sunday evening amid uncertainty over a potential deal and renewed Israeli attacks. “While motorists may continue to see some short-term relief, some price-cycling states could soon experience another upward swing as retailers run out of room to lower prices further. Overall, any setback in negotiations could quickly reverse the recent decline in fuel prices.”