Maryland Gas Prices Near $4, Surge 10 Cents In A Day

Bowie MD

05 March, 2022

7:30 PM

Description

MARYLAND — Gas prices are climbing in Maryland as the national average hovers just below $4 per gallon for the first time in more than a decade — and analysts expect it to hit $4 soon. AAA Mid-Atlantic said the average gas price in Washington, D.C., hit $4.07 a gallon In Maryland, the average price for a gallon of regular gas was $3.95 on Saturday, an increase of 10 cents in one day, according to AAA. That's higher than the national average of $3.84. The cost of a gallon of mid-grade gas is $4.29, premium gas is $4.55 and diesel fuel is $4.46. One week ago, the average price for gas in Maryland was $3.59 a gallon. Russia's violent invasion of Ukraine has roiled the oil market, causing the global price of oil to spike and leading to higher pump prices in the United States, according to AAA. Gas prices have soared 18 cents since Wednesday and 29 cents since the invasion of Ukraine eight days ago, according to a CNN report. Not since the summer of 2011 have Washington, D.C.-area drivers paid this much at the pump, a AAA news release said. Overnight, the average retail price of a gallon of regular, self-service gasoline in the nation's capital spiked over $4 a gallon. The last time gas was over $4 in the District was on June 7, 2011, when prices were $4.02 a gallon. The average price of a gallon of regular gas Saturday across Maryland was: Annapolis: $3.95Baltimore City: $3.96Baltimore County: $3.95Bowie: $3.96Frederick: $3.93Harford County: $3.95Howard County: $3.95Montgomery County: $3.98Prince George's County: $3.93 The average retail price in the Washington, D.C., metro area also jumped from yesterday's average. Today's average price in the metro region is $3.92, up 9 cents from Friday and 34 cents since last month, and $1.17 more than last year. "Motorists are feeling the pain at the pump and we're still months away from the start of the peak summer driving season," said Ragina Cooper Ali, spokesperson for AAA Mid-Atlantic. "Although speculation can run awry, economic indicators continue to point to higher crude oil and gasoline prices for the remainder of winter and into spring." The increases mark the largest price hikes since Hurricane Katrina hit the U.S. Gulf Coast in 2005, devastating the nation's oil and gas industry, according to CNN. With prices rising at such a rapid pace, a national average of $4 a gallon will probably be reached soon, analysts say. "This is not the end of it. We're already up another 14 cents on wholesale gas prices this morning," Tom Kloza, a global petroleum analyst, told CNN on Friday. "It's absolutely out of control." The price of a gallon of gas varies dramatically based on where you live. In California, the average price for a gallon of gas hit a staggering $5.07 on Friday, according to AAA, making it the first state ever to have an average price above $5 a gallon. Meanwhile, if you live in Arkansas, a gallon of gas is only $3.45. Overall, gas prices are up more than $1 from this time last year, according to GasBuddy.com. The average price for a gallon of regular gas in Maryland is $4.02, according to GasBuddy. That's higher than AAA's average price by a few cents. Currently, Maryland is at the midpoint for gas prices in the nation, according to GasBuddy.