Gas prices in the U.S. increased slightly after a three-week decline, primarily due to price adjustments in the Great Lakes region.
Prices at U.S. pumps rose 1 cent from a week ago, pushing pause on gradually declining prices, largely because of price increases in Great Lakes states, GasBuddy said on Monday. Gasoline prices in the U.S> hit $3.41 per gallon on Monday, according to GasBuddy, while AAA put the national average per gallon at $3.447. The national average, according to GasBuddy, is still down 18 cents from a month ago, and down 13.8 cents per gallon from a year ago. For diesel, the national average is down 1.
For diesel, De Haan said that the drop in prices continues, with diesel now “at its lowest level since January 2022”. With gasoline and diesel prices still lower than a year ago, De Haan described the situation as “music to the ears of the Federal Reserve, as fuel prices are a significant component of the Consumer Price Index”.
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