Baltimore gas prices jump 55.5 cents in a week to $3.49 a gallon, GasBuddy says

BALTIMORE (WBFF) — Drivers in Baltimore are seeing a sharp jump at the pump, with average gas prices rising more than 50 cents in the past week.

Average gas prices in Baltimore have risen 55.5 cents per gallon in the last week, averaging $3.49 a gallon today, according to GasBuddy’s survey of 663 stations in Baltimore.

Prices are 56.8 cents per gallon higher than a month ago and 65.2 cents per gallon higher than a year ago.

Across the country, the national average price of gasoline has risen 51.1 cents per gallon in the last week to $3.45 a gallon today.

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GasBuddy price reports showed the cheapest station in Baltimore was priced at $3.19 a gallon yesterday, while the most expensive was $3.99 a gallon, a difference of 80 cents per gallon. The lowest price in Maryland yesterday was $2.69 a gallon, while the highest was $4.39 a gallon, a difference of $1.70 a gallon.

Neighboring areas also saw increases. Washington, D.C., averaged $3.48 a gallon, up 43.9 cents per gallon from last week’s $3.04 a gallon. York averaged $3.63 a gallon, up 49.1 cents per gallon from last week’s $3.14 a gallon.

Patrick De Haan, head of petroleum analysis at GasBuddy, said the rapid increase follows a spike in oil prices.

“In just a week, consumers have seen gasoline prices surge at one of the fastest rates in years after oil prices spiked following U.S. strikes on Iran and the effective closure of the Strait of Hormuz,” De Haan said. “With additional attacks across the Middle East over the weekend pushing oil above $100 per barrel for the first time in years, fuel markets are now rapidly recalibrating to the risk of prolonged disruption to global supply flows.”

De Haan said prices could continue rising in the days ahead. “As a result, gasoline prices in many states could climb another 20 to 50 cents per gallon this week, with price-cycling markets potentially seeing increases as early as today,” he said. “Diesel may rise even more sharply, with increases of 35 to 75 cents per gallon possible as global distillate markets react.”

The national average price of diesel increased 85.9 cents compared to a week ago and stands at $4.599 per gallon.