Gas Prices Dip Again in the US as Oil Remains Stuck in Neutral
London, April 04, 2025, (Oilandgaspress) –––The nation’s average price of gasoline has fallen for the second straight week, declining 3.8 cents compared to a week ago and stands at $3.04 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 4.7 cents from a month and is 29.9 cents per gallon lower than a year ago. The national average price of diesel has decreased 1.9 cents in the last week and stands at $3.629 per gallon.
“Gasoline prices in the U.S. have edged slightly lower over the past week, even as geopolitical tensions intensify, with the Trump administration promising tariffs that could not only create economic uncertainty but also impact what some motorists pay at the pump in the weeks ahead,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Given the volatility surrounding the tariff situation, forecasting fuel prices remains challenging, as uncertainty lingers over the timing and scope of these tariffs, which the Trump administration has suggested will soon take effect. This comes on top of ongoing concerns about the Russian invasion of Ukraine and discussions of a potential deal to end the war. While OPEC has signaled its intent to stabilize the market, policy decisions from the White House could introduce further uncertainty, making it difficult to predict where prices will head next. However, nearly every year sees a seasonal spring increase, which could eventually push prices higher ahead of summer.”
OIL PRICES
After some ups and downs, oil markets remain stuck in neutral, balancing the possibility of U.S. tariffs on countries like Mexico, Canada and China, as well as talks between the U.S. and Ukraine. In early Monday trade, WTI crude oil was up 23 cents to $69.99 per barrel, down slightly from last week’s $70.30 per barrel start. Brent crude oil was also higher in Monday morning trade, rising 34 cents to $73.15, down slightly from last Monday’s $73.49 per barrel print. Oil may continue to move a bit sideways ahead of OPEC’s decision on whether or not to restore production cuts at its April meeting, a move that could put oil under additional pressure.
OIL AND REFINED PRODUCTS
Last week’s report from the Energy Information Administration showed a 2.3 million barrel dip in U.S. oil inventories, which stand 4% below the seasonal five-year average, while gasoline inventories rose some 400,000 barrels and are slightly below the seasonal average. Distillate inventories jumped 3.9 million barrels but remain about 8% below the seasonal five-year average. Refinery utilization jumped 1.6 percentage points to 86.5%, while domestic crude oil production was estimated to have risen slightly to 13.502 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 $2.69 rounding out the top five most common prices.
The median U.S. gas price is $2.89 per gallon, down 5 cents from last week and about 15 cents lower than the national average.
The top 10% of stations in the country average $4.46 per gallon, while the bottom 10% average $2.47 per gallon.
The states with the lowest average prices: Texas ($2.58), Mississippi ($2.62), Oklahoma ($2.63).
The states with the highest average prices: California ($4.71), Hawaii ($4.51), and Washington ($4.06).
Biggest weekly changes: Michigan (-10.6¢), South Carolina (-10.6¢), Texas (-10.0¢), Ohio (-9.2¢), Iowa (-8.7¢)
DIESEL PRICE TRENDS
The most common U.S. diesel price stood at $3.59 per gallon, unchanged from last week, followed by $3.49, $3.39, $3.29, and $3.69, rounding out the top five most common prices.
The median U.S. diesel price is $3.49 per gallon, down 3 cents from last week and about 14 cents lower than the national average.
Diesel prices at the top 10% of stations in the country average $4.59 per gallon, while the bottom 10% average $3.05 per gallon.
The states with the lowest average diesel prices: Oklahoma ($3.12), Texas ($3.22), and Arkansas ($3.24).
The states with the highest average diesel prices: Hawaii ($5.29), California ($5.03), and Washington ($4.38).
Biggest weekly changes: North Dakota (-6.3¢), Utah (-6.1¢), West Virginia (-5.9¢), Texas (+5.7¢), Michigan (+5.6¢).
Information Source: Read More
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