GILLETTE, Wyo. — Campbell County drivers saw their average price for a gallon of gasoline jump 8 cents in a week at a time when the national average rose just 2.5 cents.
The nation’s average price of gasoline rose to $3.49 per gallon Monday, according to GasBuddy data compiled from more than 12 million individual price reports. The national average is up 5.2 cents from a month ago but down 5.8 cents from a year ago.
The national average price of diesel has risen 2.3 cents in the last week to stand at $3.83 per gallon — the same level as one year ago.
“Much like last summer, the nation’s average price of gasoline has remained somewhat stuck in the mid-$3 per gallon range with a mixed bag of prices: small declines in some states and modest increases in others as we wait for what could be the next major trend,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Hurricane Beryl had no major impact on prices, but some drivers in Texas had trouble finding gasoline due to power outages, a situation that continues to improve.
“For now, we’ll continue to see small price fluctuations as we await news of any hurricane-fueled refinery disruptions or other supply challenges as we head into the busiest weeks of the summer travel season.”
On Monday, AAA reported the national average price for a gallon of regular gasoline at $3.52 per gallon, up 2 cents from a week ago. Wyoming’s average is $3.33, up 6 cents from last week. Campbell County’s average price, up to $3.30 per gallon, is in the middle of the state’s price ranges this week. Natrona County’s average of $3.06, up 14 cents from last week, continued to be the cheapest in the state, according to AAA. That’s followed by $3.09 in Goshen County and $3.16 in Laramie County.
The cheapest fuel in Campbell County on Monday was $3.27 at M.G. Oil Co., 502 El Camino Road, followed by $3.29 at nearly all other gas stations in town, according to GasBuddy reports.
Also included in GasBuddy’s report Monday:
OIL PRICES
Oil prices have struggled to break out of the low-$80s, with sluggish U.S. demand just one of the factors keeping them somewhat confined. While inventories did draw last week, that may change this week due to Beryl-related port closures keeping exports limited. In early Monday trade, a barrel of West Texas Intermediate crude oil was up 13 cents to $82.34 per barrel, just under last week’s $82.49 per barrel start. Brent crude was also in the black, last up 9 cents to $85.12 per barrel, almost $1 below last week’s $86.01 per barrel start. While WTI made a run at nearly $84 last week, selling pressure pulled the plug before oil could break out. With the peak of U.S. summer travel coming in the next couple of weeks, there may be some additional selling pressure into August without any activity in the tropics.OIL AND REFINED PRODUCTS
Last week’s report from the EIA showed a 3.4 million barrel drop in crude oil inventories, while the SPR increased half a million barrels. Domestic crude oil production returned to an all-time high of 13.3 million barrels, 1 million above a year ago, while gasoline inventories fell 2 million barrels, and distillates surged 4.9 million barrels. EIA’s implied demand figure fell 26,000 barrels to 9.40 million, still well above GasBuddy’s real-street figures. Refinery utilization jumped 1.9 percentage points to 95.4% as gasoline production reached a record 10.3 million barrels per day.FUEL DEMAND
According to GasBuddy demand data driven by its Pay with GasBuddy™ fuel card, U.S. retail gasoline demand saw a rise of 1.6% for the week ending July 13 (Sun-Sat). Broken down by PADD region, demand rose 3.6% in PADD 1, rose 2.9% in PADD 2, fell 4.5% in PADD 3, fell 1.7% in PADD 4, and rose 0.7% in PADD 5. GasBuddy models U.S. gasoline demand at 8.881 million barrels per day.GAS PRICE TRENDS
The most common U.S. gas price encountered by motorists stood at $3.49 per gallon, up 10 cents from last week, followed by $3.39, $3.59, $3.29, and $3.19 rounding out the top five most common prices.The median U.S. gas price is $3.39 per gallon, unchanged from last week and about 10 cents lower than the national average.
The top 10% of stations in the country average $4.52 per gallon, while the bottom 10% average $2.95 per gallon.
The states with the lowest average prices: Mississippi ($2.97), Arkansas ($3.03), Louisiana ($3.08).
The states with the highest average prices: California ($4.69), Hawaii ($4.63), and Washington ($4.21).
DIESEL PRICE TRENDS
The most common U.S. diesel price stood at $3.99 per gallon, unchanged from last week, followed by $3.89, $3.79, $3.59, and $3.69 rounding out the top five most common prices.The median U.S. diesel price is $3.77 per gallon, up 8 cents from last week and about 6 cents lower than the national average for diesel.
Diesel prices at the top 10% of stations in the country average $4.71 per gallon, while the bottom 10% average $3.27 per gallon.
The states with the lowest average diesel prices: Oklahoma ($3.37), Texas ($3.42), and Mississippi ($3.47).
The states with the highest average diesel prices: Hawaii ($5.41), California ($5.04), and Washington ($4.47).
GasBuddy
