Report: Average Gas Price Drops to $3.64 Per Gallon

September 19, 2022 Topic: Gas Prices Region: Americas Blog Brand: Politics Tags: Gas PricesGasBuddyGas ConsumptionInflationJanet Yellen

Report: Average Gas Price Drops to $3.64 Per Gallon

The report added that demand dropped in the last week and that the most common gas price encountered was $3.39 per gallon; the median gas price is now $3.44 per gallon. 


The average gas price in the United States has dropped again to $3.64 per gallon, according to GasBuddy’s latest report on Monday. The price has decreased 3.9 cents from the previous week and represents a drop of 25.7 cents from a month earlier. 

“With a 14th consecutive weekly decline, the national average price of gasoline has now surpassed 2018’s record decline, seeing its longest downward streak since 2015,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in the release. 


“While some states continue to see gas prices trend higher, the majority have continued to decline. However, this week could change the downward trend. With some issues arising in Plains and Great Lakes states as the transition to winter gasoline begins, I think we have the best potential to see the weekly trend of falling prices snapped. West Coast states also continue to see increases as unexpected refinery issues continue to percolate, preventing a downward move. While gasoline could nudge higher, diesel prices should continue to ease after a much-needed jump in inventories last week.”

The report added that demand dropped in the last week and that the most common gas price encountered was $3.39 per gallon; the median gas price is now $3.44 per gallon. 

As of last Friday, AAA reported that the average gas price had dropped two cents to $3.69 per gallon. 

“Although gasoline demand has decreased, fluctuating oil prices have led to smaller pump price decreases. If oil prices continue to rise, the national average will likely reverse as pump prices increase,” the AAA report said. AAA, per the New York Times, placed the daily gas price drop streak at ninety-one.

The AAA report added that Connecticut saw a 15-cent drop in the average price, while gas prices in Rhode Island, Massachusetts, Illinois, and Indiana each declined by 13 cents. Delaware, New York, and Ohio saw price decreases of 12 cents. 

But the Times piece also noted that the decline may not continue indefinitely. 

“You would expect that a hard winter could create a significant increase in demand in price of natural gas,” Bryan Benoit, U.S. national managing partner of energy at Grant Thornton, told the newspaper. “And then of course all of this is further exacerbated by what’s going on with the war in the Ukraine.”

The Secretary of the Treasury, Janet Yellin, expressed worry about the gas price situation, per Fortune

“It’s a risk and it’s a risk that we’re working on the price cap to try to address,” Yellin said. “This winter, the European Union will cease, for the most part, buying Russian oil and in addition, they will ban the provision of services that enable Russia to ship oil by tanker. It is possible that could cause a spike in oil prices.”

Stephen Silver, a technology writer for The National Interest, is a journalist, essayist and film critic, who is also a contributor to The Philadelphia Inquirer, Philly Voice, Philadelphia Weekly, the Jewish Telegraphic Agency, Living Life Fearless, Backstage magazine, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. Follow him on Twitter at @StephenSilver.

Image: Reuters.