GasBuddy says the national gasoline average fell 5.5 cents to $4.24 a gallon, helped by state fuel tax suspensions.
Drivers are still paying $1.26 more per gallon than a year ago.
Oil above $100 a barrel and shipping disruptions threaten further relief at the pump.
Gasoline prices are easing, but GasBuddy’s weekly report suggests drivers should remain cautious about their fuel budgets.
The national average declined to $4.24 a gallon, down 23 cents from a month earlier. State tax suspensions and markets moving through their usual price cycles helped drive the weekly decline, according to GasBuddy.
“Average gasoline prices declined in the vast majority of states over the last week, led by a combination of state fuel tax suspensions and price-cycling markets working their way back down, while diesel rose in most states, though the largest diesel decline was driven by a state tax suspension,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in the GasBuddy Blog.
“For now, the outlook remains tied to geopolitical developments, and some price-cycling states could see upward swings in the days ahead if oil markets firm at all. Motorists in states that benefited from tax suspensions may continue to see some insulation from broader market pressures, but the overall picture remains fluid.”
What it means for motorists
For a driver buying 15 gallons, that monthly decrease saves about $3.45. However, the same purchase still costs approximately $18.90 more than a year ago.
The outlook remains uncertain. GasBuddy reported that mine strikes on two supertankers in the Strait of Hormuz disrupted shipping, while U.S. crude traded around $100.61 a barrel early Monday.
Despite that, oil prices retreated slightly to start the week. The retreat came after President Trump waived new Russia sanctions on Friday and announced a deal to bring Russian diesel to the U.S., easing one supply risk even as the Hormuz situation deteriorated.
Gas prices varied sharply by location at the start of the week. North Carolina had the lowest state average at $3.58, while California’s was highest at $6.12.
Diesel prices moved in the opposite direction from gasoline, rising 5.2 cents to $6.30 a gallon, making it even more expensive to move consumer products around the country.