Gas Prices Continue to Reach Five Year Lows

(Undated) — GasBuddy.com is reporting that the nation’s average price of gasoline has fallen 5.7 cents over the last week and stands at $2.82 per gallon. The national average price of diesel has also fallen 4.3 cents in the last week and stands at $3.58 per gallon. GasBuddy Head of Petroleum Analysis, Patrick De Haan, says conditions remain ripe for some of the lowest seasonal gas prices in five years. He says oil prices continue to struggle amid rising U.S., Canadian, and OPEC+ oil production, while refinery output remains near some of the highest seasonal levels in years, factors that are likely to keep gas prices under pressure over the weeks ahead. De Haan says they are continuing to see some gas prices below $2 per gallon in the nation’s cheapest states. Diesel prices have also seen some relief, though inventories remain tight, keeping the national average higher than a year ago.