Average gas prices in Buckeye remain as high as they have been since the beginning of the year, although average prices have mostly stabilized over the past week.
Leading into the weekend, Buckeye drivers were filling up with gas selling for an of $4.87 per gallon, higher than the both the state average of national average of $4.74 and national average of $4.14.
Gas price watchers say high prices reflect recent uncertainty on supply of oil coming out of the Middle East.
While prices locally remained mostly stable in the past few days, prices around the rest of the country were poised for another jolt, according to Patrick De Haan, head of petroleum analysis at GasBuddy.
“In addition, some price-cycling markets could also see another round of increases,” De Haan said. “As a result, the national average could rise by double digits, potentially reaching the $4.20 to $4.35 per gallon range in the days ahead.
“Diesel prices continue to climb as well and now sit just 25 cents away from setting a new all-time record,” De Haan said. “Recent escalations between the U.S. and Iran have further intensified concerns about prolonged disruptions to global oil flows, keeping markets on edge. At this point, the trajectory of fuel prices remains highly uncertain and is largely contingent on the reopening of the Strait of Hormuz. Until that occurs, the risk of further increases remains firmly in place.”
“While the oil futures market will closely track and react to headlines around ceasefire or escalation from U.S. President Trump, the physical market remains focused on disrupted barrels moving through the Strait of Hormuz,” said Giovanni Staunovo, Union Bank of Switzerland commodities analyst.
“Spot buyers are being forced to pay higher premiums relative to later delivery. Meanwhile, refineries in Asia seeking alternative supplies are pushing up oil prices across Europe, Africa, and the Americas,” Staunovo said.
Gas price trends
- The most common U.S. gas price encountered by motorists stood at $3.99 per gallon, unchanged from a week ago, followed by $3.89, $3.79, $4.19, and $3.69, rounding out the top five most common prices.
- The median U.S. gas price is $3.89 per gallon, up 10 cents from last week and about 17 cents lower than the national average.
- The top 10% of stations in the country average $5.65 per gallon, while the bottom 10% average $3.36 per gallon.
- The states with the lowest average prices: Oklahoma ($3.22), Kansas ($3.35), and North Dakota ($3.41).
- The states with the highest average prices: California ($5.87), Hawaii ($5.55), and Washington ($5.32).
- Biggest weekly changes: Wisconsin (+20.3¢), Pennsylvania (+18.5¢), Iowa (+18.2¢), South Dakota (+18.0¢), Louisiana (+16.8¢).
Diesel Price Trends
- The most common U.S. diesel price stood at $4.99 per gallon, unchanged from last week, followed by $4.79, $4.89, $4.69, and $4.59, rounding out the top five most common prices.
- The median U.S. diesel price is $5.42 per gallon, up 17 cents from last week and about 16 cents lower than the national average.
- Diesel prices at the top 10% of stations in the country average $6.44 per gallon, while the bottom 10% average $4.69 per gallon.
- The states with the lowest average diesel prices: Oklahoma ($4.64), Kansas ($4.71), and North Dakota ($4.73).
- The states with the highest average diesel prices: California ($7.66), Hawaii ($6.93), and Washington ($6.72).
- Biggest weekly changes: California (+33.6¢), North Carolina (+32.6¢), Nebraska (+31.8¢), Arkansas (+31.5¢), Nevada (+31.2¢).
