Continuing a downward trend, the average price of a gallon of gasoline in Massachusetts fell to $4.35 per gallon, a drop of 11 cents.
This follows last week’s 4-cent drop, after falling 11 cents each of the previous two weeks, according to a Monday report from the travel association AAA Northeast.
“Oil accounts for almost 60% of pump prices, so with the price of oil dropping, prices at the pump follow suit. Couple that with falling demand for gasoline, and you have a recipe for prices continuing to ease. It’s possible that the national average for regular unleaded gas could drop below $4 a gallon by the end of this week,” Mary Maguire, AAA Northeast director of public and government affairs, said in the press release.
Massachusetts’ prices remain higher than its southern neighbors’ with Rhode Island reporting $4.27 a gallon and Connecticut posting $4.20. The nationwide average is $4.03.
Prices remain significantly higher than a year ago, when Massachusetts averaged $3.04 as demand for gas still lagged due to a late-summer increase in new cases of COVID.
