Nationwide Average Gas Price Falls for 10th Consecutive Week Nationwide Average Gas Price Falls for 10th Consecutive Week
gas pump

Nationwide Average Gas Price Falls for 10th Consecutive Week

After hitting record highs earlier this summer, Americans have been getting a bit of relief at the pump as the average price per gallon of gas has continued to recede. Last week, the national average gas price came in at $3.86 per gallon — down 5.1¢ from the week prior. This marked the 10th straight week of falling prices. According to data from AAA, that ranks as the second-longest streak since 2005. Meanwhile, GasBuddy notes that the average price per gallon is down 51.3¢ over the past month. However, today’s prices are still 72.2¢ higher than they were this time last year.

Looking more closely at this week’s figures, the most commonly encountered gas price across the U.S. was $3.49 per gallon. That’s not only 37¢ lower than the average price but is also down a dime from last week. Other common prices (in order of commonality) were $3.59, $3.69, $3.99 and $3.39. Elsewhere, the media price per gallon was down 8¢ at $3.69. Among the most expensive 10% of stations recorded, the average price was $5.18 per gallon last week while an average of $3.20 was observed among the least expensive stations.

As per usual, the state with the highest average price for gas was California at $5.27. The Golden State was once again followed by Hawaii with an average of $5.25. Nevada was a distant third at $4.89 per gallon. On the other side, Arkansas had the lowest average price in the country, coming in at just $3.37. Mississippi and Georgia followed with averages of $3.39 and $3.40 respectively.

Maximize Your Gas Rewards

In our Guide to Gasoline Rewards Credit Cards we take a look at some of the best credit cards for earning at the pump.

Read Now

Summing up the latest finding, GasBuddy’s head of petroleum analysis Patrick De Haan explained, “While some areas saw gas prices rise slightly last week, the national average saw yet another weekly decline, extending the streak to ten straight weeks.” As for the bad news, he added, “The pace of declines is certainly slowing down as oil prices have bounced up slightly, but the West Coast and Northeastern U.S. are areas that still may see gas prices decline, while the South and Midwest see the drop fade and potentially slight increases.” De Haan also noted that natural disaster disruptions such as hurricanes have not been a factor so far this year, but could prove to have a negative impact as the season for such events continues.

These falling gas prices come as inflation continues to be a hot topic. In fact, in July, month-over-month inflation was flat thanks largely to a 7.6% decline in the price of gasoline. Nevertheless, year-over-year inflation still registered at 8.5% last month.

After a trying spring and summer, it’s relieving to see that gas prices are continuing their downward trend. Unfortunately, with many unknowns ahead and prices still above where they were last year, it’s too early for Americans to really celebrate. Meanwhile, we’ll have to wait a couple more weeks to see what overall inflation looks like — with or without declining gasoline prices factored in.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....