There were two gas stations in cities across Fairbanks North Star Borough selling regular gas at the lowest price of $3.45 per gallon in the week ending May 24, according to customer reports submitted to GasBuddy.com.
The average reported cost of regular gas in cities within Fairbanks North Star Borough was $3.62 per gallon.
Of the 49 reported gas stations in cities within Fairbanks North Star Borough, 23 offer regular gas.
The average reported price of regular gas in Alaska was $3.61, compared to $3.56 the week before.
Drivers in the United States have experienced a rollercoaster of gas prices in recent years due to supply disruptions, shifting consumer demand, and ongoing geopolitical tensions. Global conflicts—most notably Russia’s war on Ukraine—have driven prices higher, further compounded by U.S. and E.U. sanctions on Russian oil and, more recently, new U.S. sanctions on Russian tankers that have strained supplies even further. These factors, along with lingering pandemic effects and seasonal travel surges, have led to local price variations ranging from the low $3s to over $4 per gallon.
According to the U.S. Energy Information Administration’s Short-Term Energy Outlook, global oil markets are gradually stabilizing as supply chains recover and domestic production increases. Although seasonal demand may still trigger occasional spikes, improved production and inventory levels are expected to moderate these fluctuations. At the same time, trade policies—such as tariffs on Canadian and Mexican oil as noted by GasBuddy—are adding extra pressure by increasing costs for refiners, which could impact consumer prices and further challenge household budgets.
Gas data refers to the price of gas when paid for by cash, not credit. Gas stations can charge drivers more for using credit cards due to surcharge fees. This is prohibited in 10 U.S. states.
While data is accurate as of press time, note that gas prices can fluctuate daily or even hourly.
