AAA: Massachusetts Gasoline Costs Improve for First Time in Weeks

Gasoline Costs Are 9 Cents Decrease Than This Day Final 12 months

Westwood, MA, July 1, 2024 – After an almost two-month streak of declines, gasoline costs within the Northeast are on the rise—a return to the seasonal development that’s typical this time of yr.

Regardless that gasoline demand dipped final week to eight.96 million barrels a day, down from 9.38 million barrels a day the prior week, in accordance with the Vitality Info Administration, larger oil costs, growing worries about an energetic hurricane season and tightening inventories in our area have precipitated gasoline costs to alter course. Whereas nationwide gasoline inventories grew by a large 2.5 million barrels in complete final week, right here within the Northeast, about 200,000 barrels had been shed from regional storage.

The common gasoline value in Massachusetts is up three cents over final week ($3.43), averaging $3.46 per gallon. As we speak’s value is 5 cents decrease than a month in the past ($3.51) and 9 cents decrease than at the present time final yr ($3.55). Massachusetts’s common gasoline value is three cents decrease than the nationwide common.

“Now that faculty’s out and the summer time driving season is in full swing, gasoline costs are trending up on the expectation of stronger demand forward of the July 4 vacation,” stated Mark Schieldrop, Senior Spokesperson, AAA Northeast. “Summer season bought off to a sluggish begin with low gasoline demand, however with a file 60 million vacationers anticipated to take street journeys for the vacation, larger oil costs and decrease regional inventories, costs may proceed climb within the quick time period.”

AAA Northeast’s July 1 survey of gasoline costs discovered the present nationwide common up 5 cents from final week ($3.44), averaging $3.49 a gallon. As we speak’s nationwide common value is 5 cents decrease than a month in the past ($3.54) and 4 cents decrease than at the present time final yr ($3.53).

*Costs as of July 1, 2024

The AAA Gasoline Costs web site is your useful resource for up-to-date gasoline value data. Search common gasoline costs by Common, Plus, Premium and Diesel on Nationwide and State ranges, in addition to Metro areas.

AAA Northeast is a not-for-profit auto membership with places of work in Rhode Island, Massachusetts, Connecticut, New Jersey, New Hampshire and New York, offering greater than 6.5 million native AAA members with journey, insurance coverage, finance, and auto-related providers.