State gas prices drop to lowest level in 3 years

Average gasoline prices in Maryland have fallen 10.7 cents per gallon in the last week, averaging $3.35 per gallon today, according to GasBuddy’s survey of 2,167 stations in Maryland. Prices in Maryland are 15.4 cents per gallon lower than a month ago and stand 43.9 cents per gallon lower than a year ago. The national average price of diesel has declined 2.6 cents in the last week and stands at $3.69 per gallon — the lowest level in 940 days.

According to GasBuddy price reports, the cheapest station in Maryland was priced at $2.99 per gallon yesterday while the most expensive was $3.99 per gallon, a difference of $1 per gallon.

The national average price of gasoline has fallen 4.2 cents per gallon in the last week, averaging $3.37 per gallon today. The national average is down 11.4 cents per gallon from a month ago and stands 47.8 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Maryland and the national average going back 10 years:

August 19, 2023: $3.79 per gallon (U.S. Average: $3.84 per gallon)August 19, 2022: $3.89 per gallon (U.S. Average: $3.89 per gallon)August 19, 2021: $3.04 per gallon (U.S. Average: $3.16 per gallon)August 19, 2020: $2.25 per gallon (U.S. Average: $2.17 per gallon)August 19, 2019: $2.55 per gallon (U.S. Average: $2.60 per gallon)August 19, 2018: $2.79 per gallon (U.S. Average: $2.82 per gallon)August 19, 2017: $2.30 per gallon (U.S. Average: $2.32 per gallon)August 19, 2016: $2.11 per gallon (U.S. Average: $2.15 per gallon)August 19, 2015: $2.52 per gallon (U.S. Average: $2.66 per gallon)August 19, 2014: $3.42 per gallon (U.S. Average: $3.44 per gallon)

Neighboring areas and their current gas prices:

Baltimore: $3.31 per gallon, down 13.3 cents per gallon from last week’s $3.44 per gallon.

Washington, D.C.: DC- $3.59 per gallon, down 8.2 cents per gallon from last week’s $3.67 per gallon.

Hagerstown: $3.32 per gallon, down 6.8 cents per gallon from last week’s $3.39 per gallon.

“Gasoline and diesel prices continue to trail off across much of the country as summer demand fades away. Lower demand in other oil-consuming nations is also helping to lead the downward pressure on pump prices as we approach Labor Day,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With little new action in the Middle East to rile up prices and Hurricane Ernesto remaining far out at sea, it looks like the downward trend could continue into the week ahead. As more schools begin to resume, gasoline demand will likely continue to ease. With the transition to winter gasoline less than a month away for the majority of the nation, gas prices will soon begin their seasonal cooling off— just as temperatures soon will as well.”