A Fragile Calm at the Pump, a Deadly Airport Strike, and Growing Doubts
by: gasBuddy
Published: October 12, 2026
DALLAS...The nation’s average price of gasoline has fallen 0.4 cents over the last week and stands at $4.29 per gallon, according to GasBuddy® data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is up 0.4 cents from a month ago and is $1.28 per gallon higher than a year ago. The national average price of diesel fell 5.9 cents in the last week and stands at $6.248 per gallon.
“More states saw average gasoline prices decline than rise over the last week, with diesel falling approximately 5 cents per gallon nationally,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “On the policy front, the Trump administration’s proposed diesel deal raises more questions than it answers, and I remain skeptical that it will deliver significant relief to the trucking industry and consumers who depend on diesel. Meanwhile, Hurricane Isaias has passed, but we are awaiting updates on two refineries that were in its path, the outcome of which could impact the supply picture in the days ahead. For now, the trend is cautiously in the right direction for motorists, but between hurricane season and continued geopolitical uncertainty, it is far too early to declare the pressure on fuel prices resolved.”
OIL MARKET DYNAMICS
Oil prices pushed higher to start the week after Houthi militants launched a deadly strike on Riyadh’s King Khalid International Airport over the weekend, killing 12 people and prompting President Trump to consider joining Saudi Arabia in retaliating against the Iran-backed group. The attack underscores a dynamic keeping a persistent floor under prices even as Strait of Hormuz shipping has partially recovered: the physical cost of moving oil out of the Persian Gulf has exploded, with per-barrel transport costs rising from roughly $2 before the war to around $33 today. In early Monday trade, WTI was up $1.77 to $93.62 per barrel, above last Monday’s $90.20, while Brent gained $1.89 to $106.62 compared to $102.47 a week ago, with the November midterm elections looming as the market’s next major catalyst.
OIL AND REFINED PRODUCT SUPPLIES
The EIA’s Weekly Petroleum Status Report for the week ending October 2, 2026, showed U.S. commercial crude oil inventories fell by 3.2 million barrels and are about 1% above the five-year average for this time of year, while the SPR fell 0.8 million barrels to 283.0 million barrels. Gasoline inventories rose by 0.4 million barrels and are about 6% below the five-year seasonal average, while distillate inventories were unchanged and are about 12% below the five-year seasonal average. Refinery utilization rose 0.2 percentage points to 92.7%, while implied gasoline demand, the EIA’s proxy for retail demand, rose 81,000 bpd to 8.769 million barrels per day.
GAS PRICE TRENDS
The most common U.S. gas price encountered by motorists was $3.99 per gallon, unchanged from a week ago, followed by $3.89, $4.19, $4.09, and $3.79, rounding out the top five most common prices.
The median U.S. gas price is $4.09 per gallon, unchanged from last week and about 20 cents lower than the national average.
The top 10% of stations in the country average $5.89 per gallon, while the bottom 10% average $3.62 per gallon.
The states with the lowest average prices: Georgia ($3.77), Texas ($3.78), and Ohio ($3.87).
The states with the highest average prices: California ($6.26), Hawaii ($5.60), and Nevada ($5.39).
Biggest weekly changes: Michigan (+24.4¢), Indiana (+19.1¢), North Carolina (-15.9¢), Colorado (+12.9¢), Utah (-12.8¢).
DIESEL PRICE TRENDS
The most common U.S. diesel price stood at $5.99 per gallon, unchanged from last week, followed by $5.89, $6.39, $6.29, and $5.79, rounding out the top five most common prices.
The median U.S. diesel price is $6.09 per gallon, down 6 cents from last week and about 16 cents lower than the national average.
Diesel prices at the top 10% of stations in the country average $6.90 per gallon, while the bottom 10% average $5.42 per gallon.
The states with the lowest average diesel prices: Texas ($5.61), Georgia ($5.73), and South Carolina ($5.74).
The states with the highest average diesel prices: California ($8.35), Washington ($7.24), and Hawaii ($7.21).
Biggest weekly changes: Colorado (+25.8¢), Ohio (-23.7¢), Utah (-16.7¢), North Carolina (-15.5¢), Michigan (-13.4¢).