National regular gasoline prices averaged $3.14 a gallon last week, according to the U.S. Energy Information Administration (EIA). The price is 1.7 cents a gallon lower than the previous week, although prices remain 96.1 cents a gallon higher than the same week in 2020.
Diesel prices remained flat at $3.34 a gallon, according to EIA. The average diesel price is 91.5 cents a gallon higher than it was the same week in 2020.
“For pump prices to push less expensive, OPEC will need to follow through with their production increases, crude will need to sell consistently at lower prices and the market will need to adjust to the potential resurgence of COVID cases,” said Jeanette McGee, AAA spokesperson. “If these factors prove true consistently, pump prices could be less expensive in August, though the national average could still be at or above the $3 per gallon mark.”
AAA reported 31 states posted lower average gas prices from the previous week, ranging from one to five cents less.
