Gas prices are inching up

TEXAS – When it comes to gas prices, it’s that time of year. The nation’s average price of gasoline has risen for the first time in over a month, increasing 6.3 cents compared to a week ago and stands at $3.08 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 1.6 cents from a month ago and is 42.5 cents per gallon lower than a year ago. The national average price of diesel has decreased 0.9 cents in the last week and stands at $3.549 per gallon.

“For the first time in over a month, the national average price of gasoline has risen, driven by the final step in the transition to summer gasoline across wide portions of the country,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “This increase has nothing to do with politics or tariffs — which remain paused for now — but is instead the result of seasonality, and is something that happens almost every year. Concerns over refinery maintenance have been muted so far this year, largely due to broader concerns about the U.S. economy, and demand remains soft. However, for those in the Northeastern U.S. who have enjoyed relatively low gas prices compared to the national average, the final step in the transition to summer gasoline is still a few weeks away. Once it occurs, they too will likely see prices rise. For areas that have already completed the switch, ongoing economic uncertainty will likely prevent further major increases — for now.”