- The US National gas price average is $4.189 as of August 2nd, there are +275 odds for the price to average from $3.75 to $3.99 by August 31st.
- The national gas average dropped by .495 cents during a three-week period in July 2022 but there are +800 odds for the price average to hit $4.50 to $4.74.
- June 14th, 2022 recorded the highest national average for gas prices at $5.016 per gallon, with Los Angeles having the steepest spike.
LOS ANGELES – The US national gas price is currently sitting at $4.189, and legal sportsbooks have odds for the price to increase, decrease, or relatively stay the same. The odds for the average price is for whatever it lands on August 31st, leaving room to see patterns in the fluctuation.
Gallon Of Gas US National Avg. August 31st
- Less Than $3.75 +275
- $3.75-$3.99 +275
- $4.00-$4.24 +275
- $4.25-$4.49 +375
- $4.50-$4.74 +800
- $4.75-$4.99 +1800
- $5 Or Higher +2500
Although the average price is still a dollar higher than this time last year, it is seeing a downward trend. It was at $4.327 last week and $4.822 last month, per AAA gas price reports.
If the price continues to drop at the same right as it did from last month to last week, one more month should see at least a .495 cent decrease. This would bring the US average to $3.832, giving sports betting value to the +275 $3.75-$3.99 odds.
With many uncertainties in the oil industry, there is always a chance that the process was to see another spike. Betting on the price average being between $4.50 and $4.74 by August 31st is an underdog pick, but has value with the +800 odds.
If the prices do spike again to that number, bettors who placed wagers on the spike would at least have the funds to keep filling up their vehicle.
US States With Biggest Gas Price Spikes
June 14th saw the highest national average for the US, sitting at $5.016. This was the first time the US had an average gas price that hit the five-dollar mark. The state with the most significant impact on the average was California when the state hit an average of over $6.40, and Los Angeles has the highest prices.
During this period, 19 states had officially proceeded this five-dollar mark but California was the only state to dip into six dollars. Nevada and Illinois had the highest prices after California.
Average Gas Price By Year
- 2018 – $2.72
- 2019 – $2.60
- 2020 – $2.17
- 2021 – $3.01
- 2022 – $4.90
However, odds do show the average price decreasing, with four months left in 2022 to bring the yearly average down and avoid the current $1.89 jump from 2021 to 2022. As it currently sits, this would be the highest jump between years in the average price that the US has ever seen.
Ben has been an avid sports fan his whole life and mostly follows football and basketball, both professional and collegiate. He has been covering topics that vary from Super Bowl prop bets to articles about the generated revenue from regulated sports betting. He is currently finishing his Editing, Writing, and Media Degree at Florida State University, with a minor in Business. Diving into the world of sports betting, he is ecstatic to work in an area that has combined his two passions of sports and writing.