Since the beginning of November, U.S. gasoline demand has softened, and average fuel prices have remained flat at $2.16 on the week.
National average diesel fuel prices were $2.50 per gallon as of Nov. 30, 2020, according to the U.S. Energy Information Administration. This uptick is higher than prices in late June and late August and is reaching peaks not seen since mid April.
Following the Thanksgiving holiday, the average national price for gasoline is at $2.12, two cents more than a week ago, but still down 46 cents from last year.
The national average for gas prices dropped to $2.18, which 48 cents cheaper than mid-September last year, and is being driven by low oil prices.
The national gas price average has pushed only as expensive as $2.20 since the beginning of the pandemic, AAA said. In the last four weeks, motorists have seen the national average slowly decrease, down to today’s average.
A majority of states saw gas prices drop by one to two cents or saw no change at the pump. Though low, the volatility was enough to drive the national average down a penny from last Monday to $2.17.
Gasoline prices held steady at $2.18 as the majority of state averages saw minimal impact at the pump, maintaining overall price stabilization.
National average diesel fuel prices were $2.42 per gallon as of Aug. 3, 2020, up slightly over last month but still down compared to last year.
As COVID-19 case numbers surpass 4 million, demand for gasoline is weakening across the country. The lower demand contributed to a cheaper national average on the week; this is the first time since late April that the national average has declined.
Gasoline prices remained at $2.19 for the second week in a row after a weeks of increases, following significant drops earlier in the year due to the COVID-19 pandemic.