Fears of a recession a factor in gas prices in Massachusetts declining 6 of the last 7 weeks

Westwood, MA, March 27, 2023 — Gas prices in the Bay State continue to fall albeit slowly.

According to AAA, the average price of a gallon of gas in Massachusetts is down 2 cents from last week ($3.27), averaging $3.25 per gallon. Today’s price is 4 cents lower than a month ago ($3.29), and 99 cents lower than March 27, 2022 ($4.24). Massachusetts’ average gas price is 18 cents lower than the national average.

The decrease is the 6th out of the last 7 weeks.

Spring has sprung with gas demand surging last week as motorists took advantage of better driving weather. But fears of a recession caused global oil prices to hover near $70 a barrel, mitigating a rise in gas prices. The national average for a gallon of regular gasoline drifted lower since last week by three cents to hit $3.43.

“We may be seeing a return to seasonal trends in demand with warmer weather and longer days,” said Mary Maguire, AAA Northeast Vice President of Public and Government Affairs. “But waffling oil prices could mitigate any increase at the pump for now.”

AAA Northeast’s March 27 survey of fuel prices found the current national average to be 1 cent lower than last week ($3.44), averaging $3.43 a gallon. Today’s national average price is 7 cents higher than a month ago ($3.36), and is 81 cents lower than this day last year ($4.24).