Vermont gasoline prices 80 cents lower than year ago

Vermont Business Magazine As of Thursday, the average Vermont gasoline price was $1.95 per gallon; one year ago it was $2.75. Meanwhile, Burlington gas prices have fallen 1.8 cents per gallon in the past week, averaging $1.97/g today, according to GasBuddy's daily survey of 100 stations. Gas prices in Burlington are 38.3 cents per gallon lower than a month ago and stand 83.5 cents per gallon lower than a year ago. The lowest recorded price in Vermont this week was $1.45 in Greensboro.

According to GasBuddy price reports, the cheapest station in Burlington is priced at $1.79/g today while the most expensive is $1.99/g, a difference of 20.0 cents per gallon. The lowest price in the state today is $1.59/g while the highest is $2.39/g, a difference of 80.0 cents per gallon.

The national average price of gasoline has fallen 5.0 cents per gallon in the last week, averaging $1.78/g today. The national average is down 33.1 cents per gallon from a month ago and stands 106.4 cents per gallon lower than a year ago.

Historical gasoline prices in Burlington and the national average going back ten years:
April 20, 2019: $2.80/g (U.S. Average: $2.84/g)
April 20, 2018: $2.78/g (U.S. Average: $2.76/g)
April 20, 2017: $2.46/g (U.S. Average: $2.43/g)
April 20, 2016: $2.22/g (U.S. Average: $2.10/g)
April 20, 2015: $2.52/g (U.S. Average: $2.45/g)
April 20, 2014: $3.73/g (U.S. Average: $3.67/g)
April 20, 2013: $3.54/g (U.S. Average: $3.51/g)
April 20, 2012: $4.01/g (U.S. Average: $3.88/g)
April 20, 2011: $3.85/g (U.S. Average: $3.84/g)
April 20, 2010: $2.94/g (U.S. Average: $2.84/g)

Neighboring areas and their current gas prices:
Albany- $2.16/g, down 3.6 cents per gallon from last week's $2.19/g.
Vermont- $1.94/g, down 1.7 cents per gallon from last week's $1.96/g.
New Hampshire- $1.88/g, down 2.6 cents per gallon from last week's $1.91/g.

"With another drop in the national average from a week ago, we've made it eight straight weeks of decline, and for the first time in GasBuddy's 20 year history, we have two cities that are averaging under $1 per gallon. That's right- not a single station under $1, but the entire city average. Truly unprecedented demand destruction has been dismantling expensive gas prices everywhere," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "With oil again at new multi-decade lows, we still have room for prices to fall nearly countrywide, though areas with lower prices will see little decline, take Wisconsin for example, while higher priced states like California have the most room to decline. With the wounds to the oil industry growing deeper, it's becoming more likely that even after most Americans return to work, there will be a hangover to the low prices that many motorists will eventually be able to take advantage of."

GasBuddy's first quarterly "Consumer Fuel Buying Trends Report" released today finds that fuel demand in gallons purchased dropped 20% in March 2020 compared to the same period last year due to the COVID-19 pandemic.

This is GasBuddy's first quarterly fuel buying trend report that examines millions of fuel transactions from GasBuddy's Pay with GasBuddy program.

Additional findings:

  • Significant MoM demand drops in Q1, with monthly fuel transactions decreasing 6.5%, gallons purchased decreasing 10% and TPV decreasing 18.2%.

  • 28% of drivers overpaid for gas due to drastic price drops during COVID-19, paying more than the average price.

  • Brand loyalty decreased 3% from Q1 2019 to Q1 2020, with 55% of consumers transacting at more than one gas station brand per month in 2020 compared to 58% in Q1 2019

About GasBuddy
GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA's once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.

SOURCE GasBuddy 4.20.2020, www.vermontgasprices.com 4.23.2020