The lowest reported price for premium gas in Fairbanks North Star Borough was $3.39 per gallon during the week ending Jan. 31, available at one gas station, according to customer reports submitted to GasBuddy.
Countywide, premium gas averaged $3.66 per gallon.
Of the 49 reported gas stations in cities within Fairbanks North Star Borough, 14 offered premium gas.
U.S. gas prices continue to decline after reaching their lowest level since 2021, according to GasBuddy. The group projects the national average could dip below $2.80 per gallon during the holiday period, driven by increased oil production and lower seasonal demand.
The U.S. Energy Information Administration expects global oil stockpiles to keep growing into 2026, a trend that could weigh on crude prices in the near term. Brent crude is projected to average about $55 per barrel in early 2026 and remain near that level for the rest of the year. The agency notes that production decisions by OPEC+ and continued inventory building in China could limit how far prices fall.
Gas price data reflects cash payments. Some stations may charge higher prices for credit card transactions due to processing fees, though such surcharges are prohibited in some states and territories.
Data is accurate as of press time, but gas prices have been known to fluctuate on a daily, and even hourly, basis.
Information in this article was obtained from GasBuddy. The source data can be found here.
