Baltimore gas prices jump 15 cents in a week to $3.98 a gallon, GasBuddy says

BALTIMORE (WBFF) — Average gas prices in Baltimore have risen 15.1 cents per gallon in the last week, averaging $3.98 a gallon today, according to GasBuddy’s survey of 663 stations in Baltimore.

Prices in Baltimore are 104.1 cents per gallon higher than a month ago and stand 81.2 cents per gallon higher than a year ago.

GasBuddy price reports show the cheapest station in Baltimore was priced at $3.67 a gallon yesterday, while the most expensive was $4.39 a gallon, a difference of 72.0 cents per gallon.

Across Maryland, the lowest price yesterday was $3.59 a gallon and the highest was $5.09 a gallon, a difference of $1.50 a gallon.

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Nationally, the average price of gas has risen 2.4 cents per gallon in the last week, averaging $3.95 a gallon today, according to GasBuddy data. The national average is up 97.9 cents per gallon from a month ago and stands 83.8 cents per gallon higher than a year ago.

Diesel prices are also climbing. The national average price of diesel has increased 14.3 cents compared to a week ago and stands at $5.369 per gallon, the highest level since July 27, 2022.

“Gasoline and diesel prices continue to climb to multi-year highs as the effective closure of the Strait of Hormuz curtails the flow of millions of barrels of crude oil each day,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The situation remains highly volatile and unpredictable, but upward pressure on fuel prices is likely to persist as long as global oil supplies are constrained by the continued disruption in the Strait. We’re likely to see the national average for gasoline push beyond the $4-per-gallon mark, while diesel could approach $6 per gallon and potentially set new records if conditions fail to improve. Americans have already spent nearly $8 billion more on gasoline over the past month, a trend that poses growing risks to the broader economy, while surging diesel prices may begin to reaccelerate inflation.”

In nearby areas, GasBuddy reported Washington, D.C., at $4.17 a gallon, up 10.8 cents per gallon from last week’s $4.06 a gallon. York was listed at $3.92 a gallon, up 0.8 cents per gallon from last week’s $3.91 a gallon.