ECONOMY

Regional Gas Prices Fall Amid Middle East Volatility

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United States: Retail gasoline prices fell across multiple states this week, with GasBuddy reporting week-over-week declines in South Carolina, Ohio and Michigan as of Monday and Sunday station surveys. State averages varied widely, with some stations reporting prices under $3.60 while others exceeded $4.40, and the U.S. average also declined this week. The declines provided short-term relief to drivers and commuters, but disparities persisted across regions and stations; some areas still face prices substantially higher than a year ago. On June 8, Brent and WTI crude benchmarks began trading above $90 a barrel after renewed Middle East strikes, raising concerns about potential supply disruptions through the Strait of Hormuz.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

Prior months: Retail gasoline remained roughly $1 per gallon higher than one year earlier according to GasBuddy comparisons.
Two weeks prior: Some regions recorded larger multi-week declines; NBC4i noted a 56-cent decline over two weeks in Columbus area.
Last week: GasBuddy reported week-over-week drops across South Carolina (−19.8 cents) and Ohio (−29.5 cents) and statewide declines in Michigan (≈−20 cents).
Sunday/Monday surveys: Station-level prices ranged widely within states, with lows around $3.17 and highs up to $4.72 in different markets.
June 8: Detroit Free Press reported Brent and WTI trading above $90 per barrel after renewed Middle East strikes, prompting supply-concern monitoring.