Gas prices fall slowly, but should keep falling

Vermont Business Magazine Average gasoline prices in Vermont are $3.61 per gallon, down 1 cent per gallon from last week, up 16 cents/g from last month and up 13 cents/g from last year. The lowest price in the state yesterday was $3.28/g in Rutland, while the highest was $3.84/g in South Royalton.

Gas prices here and across the nation have fallen slower than anticipated but are expected to keep dropping in the near future at least.

Meanwhile, average gasoline prices in Burlington have risen 1.4 cents per gallon in the last week, averaging $3.64/g today, according to GasBuddy’s survey of 100 stations in Burlington. Prices in Burlington are 23.8 cents per gallon higher than a month ago and stand 15.8 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Burlington was priced at $3.47/g yesterday while the most expensive was $3.69/g, a difference of 22.0 cents per gallon.

The national average price of gasoline fell 5 cents per gallon in the last week, averaging $3.59/g today. The national average is down 8 cents per gallon from a month ago and stands 9 cents per gallon higher 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 4.6 cents in the last week and stands at $3.90 per gallon.

Vermont USES Trend
Today 3,618 3,590 Prices Stable
Yesterday 3,620 3,608
One Week Ago 3,629 3,648
One Month Ago 3,458 3,673
One Year Ago 3,485 3,508
* Average Regular Gas Prices – Updated: 5.16.2024. 10:55 AM

Historical gasoline prices in Burlington and the national average going back ten years:
May 13, 2023: $3.48/g (US Average: $3.52/g)
May 13, 2022: $4.62/g (US Average: $4.44/g)
May 13, 2021: $2.98/g (US Average: $3.03/g)
May 13, 2020: $1.89/g (US Average: $1.86/g)
May 13, 2019: $2.87/g (US Average: $2.86/g)
May 13, 2018: $2.91/g (US Average: $2.86/g)
May 13, 2017: $2.47/g (US Average: $2.33/g)
May 13, 2016: $2.30/g (US Average: $2.22/g)
May 13, 2015: $2.67/g (US Average: $2.67/g)
May 13, 2014: $3.77/g (US Average: $3.64/g)

Neighboring areas and their current gas prices:
Albany- $3.71/g, down 1.3 cents per gallon from last week’s $3.72/g.
New Hampshire- $3.53/g, down 2.8 cents per gallon from last week’s $3.56/g.

“While pump prices haven’t exactly plummeted, we’ve seen the average price of gasoline drop in a majority of states over the last week as refineries finish maintenance and ramp up output of products like gasoline,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With gas prices now nearing a 10-cent drop to the high we saw a few weeks ago, the future looks good as we get closer to Memorial Day; price drops could potentially accelerate after last week’s jobs data shows the economy continues to cool off While gas prices stand slightly above where they were last year, I expect most Americans will see prices fall before the holiday weekend, and I’m optimistic the trend could extend into June and beyond. for now, the worst is behind us.”

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 5.13.2024. GasBuddy
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