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Gas prices dropping during pandemic

May 2nd, 2020 by WCBC Radio

After pump prices steadily declined due to low gas demand and cheap crude prices in response to COVID-19, today marks the second day in ten weeks that the national average for a gallon of regular gasoline has increased. New data from the Energy Information Administration (EIA) revealed that domestic gas demand continues to increase, which helped to push up the national average. As more states aim to end their stay-at-home orders and businesses around the country begin to reopen, gas demand is likely to continue increasing and pump prices are likely to stabilize.

 

The gas price average in Maryland today is $1.87, which is down respectively four cents in the last week, 14 cents in the last month, and 95 cents from this date last year. Maryland’s statewide average has been under $2 for four weeks.

 

The national gas price average is $1.77, down respectively one cent in the last week, 21 cents in the last month and $1.11 from this time last year.

 

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

 

Today

Week Ago

Month Ago

Year Ago

National

$1.77

$1.78

$1.98

$2.88

Maryland

$1.87

$1.91

$2.01

$2.82

Annapolis

$1.81

$1.84

$1.96

$2.79

Baltimore

$1.83

$1.87

$1.97

$2.80

Cumberland

$1.80

$1.89

$1.97

$2.88

Frederick

$1.85

$1.89

$1.97

$2.81

Hagerstown

$1.79

$1.80

$1.92

$2.81

Salisbury

$1.80

$1.88

$1.97

$2.72

Washington Suburbs

(MD only)

$2.02

$2.05

$2.14

$2.88

 

2 Responses to “Gas prices dropping during pandemic”

  1. May 02, 2020 at 10:20 am, Jay said:

    The pandemic has been great for drivers of combustion engine vehicles. I think someone in DC said something like that.

    Reply

  2. May 04, 2020 at 7:11 am, mac said:

    If you ever needed a perfect example of the law of supply and demand this is it.

    Reply

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