May 2025 Fuel Price Update: Prices See a Slight Decline Ahead of Memorial Day – Fuel

Within the previous week, gas prices dipped barely after a brief uptick. The national cost of gas currently stands at $3.12, based on U.S. Energy Information Administration (EIA) data. Prices year-over-year are down by 48 cents.

Despite the fact that gas prices have fluctuated in recent weeks, the changes are hovering in the identical range for many U.S. states. In response to GasBuddy’s Head of Petroleum Evaluation, Patrick De Haan, the value of gasoline has resumed its decline as refineries wrap up seasonal maintenance and prepare to spice up output.

Nonetheless, some increases were seen on the West Coast last week on account of a fireplace on the Valero refinery in Benicia, California. Alternatively, trade war de-escalation between the U.S. and China could push gas prices up in the approaching weeks.

“As we approach Memorial Day, gas prices may even see some minor fluctuations, but for now, I don’t expect any significant changes to the national average, with prices staying near their lowest seasonal level since 2021,” De Haan said.

See how diesel prices are changing per region on Work Truck.

U.S. Regional Gasoline Prices as of May 12, 2025

Here’s a have a look at prices by region based on EIA data, as of May 12:

• East Coast: $2.94
• Midwest: $2.97
• Gulf Coast: $2.69
• Rocky Mountain: $3.13
• West Coast: $4.22

Although the national average didn’t change much, the West Coast saw the best increase up to now week of about seven cents, and the East Coast saw the best decline of about five cents.

Here’s a have a look at the highest 10 least expensive states to purchase gas, based on AAA data:

Mississippi and Louisiana proceed holding the highest two spots for the bottom price for a gallon of gas. Currently, 25 states have a $2.99 or lower average for a gallon of gas. 

U.S. Regional Gasoline Prices as of May 5, 2025

Gas prices have risen ever so barely up to now week, the primary upward tick in almost a month. The national cost of gas currently stands at $3.14, based on U.S. Energy Information Administration (EIA) data. Prices year-over-year are down by 49 cents.

Although last week offered one other mixed bag of changes for fleets and consumers alike, not much movement was seen within the national average. This slight change could possibly be on account of some regions seeing increases while others saw modest declines.

“We continued to see price cycling in states liable to such movements, including much of the Great Lakes region, in addition to in Maryland, Florida, and parts of Texas,” De Haan, said.

In response to De Haan, there could also be some promising short-term news from OPEC+, which “has agreed to extend oil production starting in June”.

“Essentially the most notable development is OPEC+’s decision to boost production next month, as oil prices hover near their lowest levels because the pandemic,” De Haan said.

Certain gasoline inventories have been tightening due to refinery maintenance, which has impacted the quantity gas prices have recently fallen. Nonetheless, refinery output is anticipated to rise. Considering maintenance wraps up and a rise in gasoline supply, there’s the potential for the national average to fall below $3 per gallon.

Here’s a have a look at prices by region based on EIA data, as of May 5:

• East Coast: $2.99
• Midwest: $3.02
• Gulf Coast: $2.72
• Rocky Mountain: $3.11
• West Coast: $4.15

Although the national average didn’t change much, there have been minor fluctuations from region to region. The West Coast saw the best decline up to now week of about 4 cents, and the Midwest and Gulf Coast regions saw the best increase of about 4 cents.

Here’s a have a look at the highest 10 least expensive states to purchase gas, based on AAA data:

In recent months, Mississippi has held the highest spot for the bottom price for a gallon of gas, as no other states have dipped low enough to change into a threat to first place. Missouri makes its return to the list, bumping Latest Mexico to identify number 12. Texas, a previous contender for the highest spot, has fallen to seventh place.

Currently, 24 states have a $2.99 or lower average for a gallon of gas.