August 14, 2018

AAA: Stable gas prices could mean supply-and-demand balance

Courtesy | State House News Service
Gas prices dipped slightly this week.

The U.S. gasoline supply and demand could be beginning to level out as the state's gas prices dropped one cent this week, AAA Northeast said.

As of Tuesday, the state's average gas price is $2.83 per gallon of regular unleaded, two cents lower than the national average but significantly higher than the $2.29 reported at this time last year.

Prices in the state and nationally have been relatively flat over the last few weeks, suggesting the supply and demand of gasoline could be balancing, said Mary Maguire, director of public and legislative affairs at AAA.

"AAA will be watching to see if spikes in demand happen closer to Labor Day as motorists squeeze in those final road trips," she said.

According to AAA, Massachusetts gas prices rose 4 cents since July 30 until dropping slightly this week.

Prices have not risen or fallen by more than three cents since May 29.

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