The recent dip in gasoline prices has brought a sigh of relief to Maryland drivers, with averages dropping below the $3 per gallon mark for the first time since June 2020. According to Fox Baltimore, the average price in Baltimore stands at $2.96 per gallon after a recent 9.2-cent decline. This is complemented by a more substantial 19.5-cent drop from last month and a decrease of 14.7 cents from the previous year.
Further reaffirming these figures, WBAL reported a state average of $2.99 per gallon, 16 cents less than the price a month ago. Maryland’s current fuel costs not only slide under the $3 threshold but also sit below the national average, which was $3.03 per gallon on Monday.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributes the significant downturn to an increase in oil production by OPEC+. “Gas prices have finally fallen below $3 per gallon nationally— the earliest date we’ve seen a $2.99 national average since 2020, when COVID was the primary driver of low prices,” De Haan stated, as per Fox Baltimore. He added that prices are likely to remain below year-ago levels and may stay under $3 in the upcoming months…