Gasoline prices edge down, could fall further

According to GasBuddy, average gasoline prices in Vermont are $3.42/g, down 1 cent per gallon from last week.

Vermont Business Magazine According to GasBuddy, average gasoline prices in Vermont are $3.42/g, down 1 cent per gallon from last week. They're down 14 cents/g from last month and down 26 cents/g from a year ago. The lowest price in the state is $2.99/g in Brattleboro, while the highest is $3.89/g in Island Pond.

Average gasoline prices in Burlington have risen 0.9 cents per gallon in the last week, averaging $3.46/g today, according to GasBuddy's survey of 100 stations in Burlington. Prices in Burlington are 17.6 cents per gallon lower than a month ago and stand 35.8 cents per gallon lower than a year ago. 

According to GasBuddy price reports, the cheapest station in Burlington was priced at $3.29/g yesterday while the most expensive was $3.59/g, a difference of 30.0 cents per gallon. 

The national average price of gasoline has fallen 7 cents per gallon in the last week, averaging $3.17/g today. The national average is down 22 cents/g from a month ago and stands 13 cents/g lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

The national average price of diesel has fallen 4.7 cents in the last week and stands at $4.18 per gallon.

Vermont USA Trend
Today 3.427 3.177 Prices Rising
Yesterday 3.421 3.190
One Week Ago 3.431 3.245
One Month Ago 3.565 3.399
One Year Ago 3.688 3.306
* Average Regular Gas Prices - Updated: 12.7.2023. 12:15 PM

Historical gasoline prices in Burlington and the national average going back ten years:
December 4, 2022: $3.82/g (U.S. Average: $3.36/g)
December 4, 2021: $3.40/g (U.S. Average: $3.36/g)
December 4, 2020: $2.17/g (U.S. Average: $2.16/g)
December 4, 2019: $2.69/g (U.S. Average: $2.61/g)
December 4, 2018: $2.75/g (U.S. Average: $2.44/g)
December 4, 2017: $2.53/g (U.S. Average: $2.47/g)
December 4, 2016: $2.30/g (U.S. Average: $2.18/g)
December 4, 2015: $2.21/g (U.S. Average: $2.04/g)
December 4, 2014: $3.11/g (U.S. Average: $2.72/g)
December 4, 2013: $3.53/g (U.S. Average: $3.24/g)

Neighboring areas and their current gas prices:
Albany- $3.46/g, down 4.4 cents per gallon from last week's $3.50/g.
New Hampshire- $3.22/g, down 2.3 cents per gallon from last week's $3.24/g.

"We've barely eked out a drop in the national average over the last week, extending the streak to 11 straight weeks of decline, even as some states have seen prices jump, while others have seen prices continue to inch lower. Motorists can blame the OPEC+ meeting for causing oil to jump early last week and then plummet late last week for the volatility in gas prices," said Patrick De Haan, head of petroleum analysis at GasBuddy. "The good news is that as the dust settled, OPEC+ agreed to barely move the needle, deepening their production cuts by an additional 900,000 barrels per day in 2024, with Saudi Arabia extending their own million barrel per day cut through March. However, that wasn't enough to offset concerns of falling global demand, which pushed oil back down to below $73 in Sunday night trading, giving hope that the national average still could fall to $2.99/gal by the end of the year."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. 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://prices.GasBuddy.com.

SOURCE 12.7.2023. GasBuddy

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