June 2024 Fuel Price Update: Prices Continue to Nudge Upward

As the summer heats up, so are gasoline prices. For the second week, prices are on the rise, after seeing a cooldown for several weeks. The average price of gasoline nudged up ever so slightly, hovering just below $3.44 per gallon, according to U.S. Energy Information Administration (EIA) data.

Prices are up across most regions of the country as well.

“With summer now officially here, we’ve seen the national average price of gasoline holding mostly steady compared to last week, with some states seeing their traditional price cycling every couple of weeks, while others have seen prices slowly slip,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “For now, gasoline prices may see little movement ahead of July 4 as oil prices have risen above $80. But the good news is that instead of the national average jumping to follow the rising price of oil, it’s holding steady. The bummer is that the decreases we hoped for will have to wait, thanks to oil’s climb.”

Despite the increase this week, the market does appear better than the same time last year. Prices are down 13 cents compared to June 2023.

U.S. Regional Gasoline Prices as of June 25, 2024

Here's how prices break down by region according to EIA data, as of June 25:

• East Coast: $3.36
• Midwest: $3.32
• Gulf Coast: $3.01
• Rocky Mountain: $3.29
• West Coast: $4.26

While much of the country is seeing slight price increases, the Rocky Mountain and West Coast regions are still seeing pennies shaved off their prices. After staying below $3 for a few weeks, prices are back above it in the Gulf Coast region.

Here's a list of the top 10 cheapest states for gas right now, according to AAA data as of June 25:

Rank	State	Regular
1	Mississippi	$2.92
2	Arkansas	$2.94
3	Louisiana	$3.01
4	Texas	$3.04
5	Oklahoma	$3.05
6	Kansas	$3.06
7	Tennessee	$3.07
8	Missouri	$3.08
9	Alabama	$3.08
10	South Carolina	$3.14

Prices in many states are also inching up by at least 1 cent. Of the 10 cheapest states for gasoline, South Carolina saw the greatest increase over the last seven days with a 6-cent rise in the average price of gas.

U.S. Regional Gasoline Prices as of June 18, 2024

For the first time in several weeks, the national average price of gasoline is trending slightly upward, fueled by slight increases in three regions of the United States. According to EIA data, those increases led to only a 1 cent increase nationally.

Still, prices are 14 cents lower than the same time last year.

“Since the national average price of gasoline fell to its lowest June level since 2021 last week, we’ve seen the drop in prices take a break, with some states seeing a small rise over the last week. Thankfully, I expect this to be more like a short timeout, with an eventual return to falling gasoline prices in most states,” De Haan said.

In several posts on X, formerly known as Twitter, De Haan noted slight price increases in specific states and towns, calling them part of a 'routine price cycle.' Additionally, De Haan adjusted his projected summer gas price average to $3.45 per gallon over the course of the next several months. That's down from his mid-May projected $3.58 average.

UPDATE... I'm now revising *lower* my expectation for the national average price of gasoline for this summer to $3.45/gal, potentially leading to a summer gasoline bill that's $4.32 billion lower than expected. https://t.co/mvmWgLVAJo

— Patrick De Haan ⛽️📊 (@GasBuddyGuy) June 17, 2024

Here's where prices stand across the country, according to EIA data as of June 18:

• East Coast: $3.35
• Midwest: $3.31
• Gulf Coast: $2.99
• Rocky Mountain: $3.30
• West Coast: $4.29

Prices in the Midwest, Gulf Coast, and Rocky Mountain regions nudged the national average up, while the West Coast saw the greatest price decrease, chopping off 7 cents from last week's average.

Here's how the data breaks down state by state, according to AAA data as of June 18:

Rank	State	Regular
1	Mississippi	$2.92
2	Arkansas	$2.93
3	Louisiana	$3.00
4	Oklahoma	$3.00
5	Kansas	$3.01
6	Tennessee	$3.02
7	Texas	$3.02
8	Missouri	$3.04
9	Alabama	$3.06
10	South Carolina	$3.08

The 10 states above tend to shuffle around each week, with all of them staying among the top 10 cheapest states for gas.

Despite only seeing a gasoline price increase in three regions this week, diesel prices are up across the board. Check out a region-by-region breakdown of prices on Work Truck.

U.S. Regional Gasoline Prices as of June 11, 2024

The summer gasoline price cooldown continues as we approach mid-June. The national average gasoline price has showed a downward trend over the last two weeks.

According to EIA data, the national average gasoline price sits at $3.42 per gallon, down almost 9 cents from the previous week and 16 cents from the same time last year.

According to GasBuddy, the national average is down about 23 cents from a month ago. GasBuddy's data is compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. It differs slightly from EIA data.

“We’ve seen one of the larger weekly drops in the national average price of gasoline in some time, and what incredible timing that it comes at the beginning of the summer driving season,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “Not only have gasoline prices plummeted in nearly every state in the last week, but nearly every state has also seen prices drop compared to a month ago."

The price of diesel has fallen alongside gasoline to its lowest level since Russia’s invasion of Ukraine in early 2022, De Haan noted. Check out Work Truck to see which regions have the cheapest diesel prices.

Regular gasoline prices across the U.S. continue to fall. According to EIA data, prices by region as of June 11 are:

• East Coast: $3.37
• Midwest: $3.26
• Gulf Coast: $2.95
• Rocky Mountain: $3.26
• West Coast: $4.37

The Gulf Coast and Rocky Mountain regions both saw the greatest drop compared to the previous week, with an average drop of 9 cents per gallon.

Here's how the data breaks down state by state, according to AAA data as of June 11:

Rank	State	Regular
1	Mississippi	$2.94
2	Arkansas	$2.96
3	Oklahoma	$2.97
4	Texas	$2.98
5	Tennessee	$3.01
6	Louisiana	$3.02
7	Kansas	$3.03
8	Missouri	$3.07
9	South Carolina	$3.08
10	Alabama	$3.10

De Haan said he expects additional declines ahead of July 4 for both gasoline and diesel prices.

U.S. Regional Gasoline Prices as of June 5, 2024

As the summer heats up, fuel prices are cooling down. Despite a brief rise to end May, the national average gasoline price is slowly declining. According to GasBuddy, the national average was down 15.9 cents from a month ago, and was 1.9 cents per gallon higher than a year ago.

EIA data shows the average price of gasoline in the U.S. at $3.51 per gallon. That's down six cents from the previous week.

Here is a breakdown of average regular unleaded gasoline prices by region, as of June 5, according to EIA data:

• East Coast: $3.44
• Midwest: $3.34
• Gulf Coast: $3.04
• Rocky Mountain: $3.36
• West Coast: $4.48

The Midwest saw the greatest drop over the previous week, down 11 cents per gallon, while New England saw the lowest drop at 4 cents.

“The calendar has closed on May, and so too has the door closed on rising gas prices, with the national average declining to its lowest level since March. Thankfully, gas prices are unlikely to be moved by OPEC’s meeting and agreement to extend production cuts into 2025, leading the national average to fall below $3.50 in the next week,” GasBuddy Head of Petroleum Analysis Patrick De Haan said.

Gasoline prices across the Gulf Coast and Midwest make up some of the lowest in the country. Here's how the data breaks down state by state, according to AAA data as of June 5:

Rank	State	Regular
1	Mississippi	$2.99
2	Arkansas	$3.01
3	Oklahoma	$3.02
4	Texas	$3.04
5	Kansas	$3.07
6	Louisiana	$3.07
7	Tennessee	$3.09
8	Missouri	$3.12
9	South Carolina	$3.15
10	Alabama	$3.16

De Haan went on to say that GasBuddy data shows gasoline demand will continue to plummet after Memorial Day. That factor, combined with refiners' efforts to input the largest amount of oil into their facilities in years, it’s likely the drop will continue as we approach the July 4 holiday.