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June 3, 2024

Worcester gas prices down 2 cents, following statewide trend

Photo | State House News Service Gas prices in Massachusetts have been declining this month.

The average gasoline price in Worcester was $3.47 per gallon on Monday morning, a 2-cent decrease from $3.49 from a week ago.

The price of regular unleaded gasoline has decreased 11 cents per gallon since a month ago. The average gas price in Worcester on May 3 was $3.59, according to a report from the travel group AAA Northeast. The price of diesel gas in Worcester also declined, with the average at $4.05, a decrease from $4.18 on May 3. 

The Worcester declines follow the Massachusetts statewide trend, which similarly shows a 2-cent decrease over the last week, averaging at $3.51 per gallon, according to the AAA Northeast press release on Monday announcing the weekly gasoline prices.

The cause of the decline is due to abundant supply of gasoline and strong domestic production, according to AAA. In the last week of May, gasoline output from U.S. refiners reached 10.019 million barrels a day, the highest level of 2024 so far, according to the U.S. Energy Information Administration. 

“Ample supplies of gasoline and strong domestic production are key factors in recent price declines, buoyed by tepid demand so far this year,” Mark Schieldrop, senior spokesperson at AAA Northeast, said in the press release. “Many petroleum market participants are eyeing the EIA’s release later this week of demand figures from the Memorial Day holiday for guidance. If production continues at its current clip, even spectacular demand over the holiday weekend might do little to move pump prices higher.”

Massachusetts’s average gas price is 2 cents lower than the national average, which is $3.53 per gallon. The national average price is 13 cents lower than a month ago and 2 cents lower than this day last year.

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