Baltimore, MD - Sept. 23, 2024  -  Gas prices in Baltimore dropped 0.7 cents a gallon in the past week, averaging $3.01 a gallon, according to GasBuddy's new survey.

Prices in Baltimore are 22 cents per gallon lower than a month ago and stand 57 cents per gallon lower than a year ago.

The national average price of diesel has declined 2.1 cents in the past week, according to the new GasBuddy report.

"With oil prices jumping after the U.S. Federal Reserve cut interest rates by a larger-than-expected half percent, we've seen some states where gas prices have inched back up, while others have continued to decline. Most of these increases should be temporary with declines returning in the days and weeks ahead," said Patrick De Haan, head of petroleum analysis at GasBuddy. "In addition, for California and areas of Nevada and western Arizona, areas that had been left out of the recent drops, refinery issues are improving and gas prices should start moving lower. While the future looks good for gas prices to continue trending lower for most in the weeks ahead, oil's jump may mute the downside potential just a bit — for now."

According to GasBuddy price reports, the cheapest station in Baltimore was priced at $2.77 a gallon yesterday while the most expensive was $3.59 a gallon.

The national average price of gasoline has risen 1.2 cents per gallon in the last week, the new data shows.