STACKER — Gasoline has maintained its relatively low price this past week compared to the same time in 2023. On average, prices at the pump are more than 10 cents lower than last summer, though analysts typically expect prices to heat up with summer travel demand. That hasn’t happened this year as domestic gasoline supply […]
STACKER — Gasoline has maintained its relatively low price this past week compared to the same time in 2023.
On average, prices at the pump are more than 10 cents lower than last summer, though analysts typically expect prices to heat up with summer travel demand. That hasn’t happened this year as domestic gasoline supply has grown and demand has been lower.
“Market fundamentals look pretty good right now if you’re a motorist,” GasBuddy analyst Patrick De Haan said in a statement Monday.
Despite lower seasonal gas prices, consumer anxiety over higher prices after years of heightened inflation rages on; the overall inflation rate has sat stubbornly high compared to what Americans were used to pre-pandemic.
The Biden administration said it stands ready to release more oil from U.S. strategic reserves if gas prices were to spike over the summer ahead of the November election. It’s one of the only levers the executive branch can pull to impact gas prices directly. The administration has used the Strategic Petroleum Reserve to increase supply in the U.S. in an attempt to push down prices several times, including in the aftermath of the Russian invasion of Ukraine, which pushed gas prices to historic highs.
Stacker compiled statistics on gas prices in Bismarck, ND metro area using data from AAA. Gas prices are current as of June 17.
Bismarck by the numbers
– Gas current price: $3.36
— North Dakota average: $3.27
– Week change: +$0.01 (+0.4%)
– Year change: -$0.20 (-5.5%)
– Historical expensive gas price: $4.85 (6/14/22)
– Diesel current price: $3.56
– Week change: -$0.02 (-0.5%)
– Year change: -$0.40 (-10.1%)
– Historical expensive diesel price: $5.75 (6/25/22)
Metros with the most expensive gas
#1. Lihue (Kauai), HI: $5.25
#2. Napa, CA: $5.18
#3. San Luis Obispo-Atascadero-Paso Robles, CA: $5.11
Metros with the least expensive gas
#1. Henderson, KY: $2.77
#2. Lubbock, TX: $2.79
#3. Jonesboro, AR: $2.84
This article originally appeared on Stacker, and was produced and distributed through a partnership with Stacker Studio. It has been republished pursuant to a CC by Nc 4.0 License.