Good news for MA drivers as gas prices have not increased since last week, but it may not last

Westwood, MA, May 31, 2022 — According to a new weekly gas price report by AAA, Massachusetts’s average gas price is the same as last week, averaging $4.73 per gallon. Today’s price is 54 cents higher than a month ago ($4.19), and $1.81 higher than May 31, 2021 ($2.92). Massachusetts’s average gas price is 11 cents higher than the national average.

A dip in gasoline demand provided drivers with a bit of stability at the pump, as the national average for a gallon rose less than three cents over the past week to reach $4.62. But this respite could be brief. AAA says that crude oil has moved above $115 a barrel due to fears of further global supply constraints caused by a European Union ban on Russian oil exports. And domestic gas demand may again start to climb as drivers fuel up for the three-month-long summer travel season, which began this Memorial Day weekend.

“So far, the pent-up urge to travel caused by the pandemic outweighs high pump prices for many consumers,” said Mary Maguire, AAA Northeast Director of Public and Government Affairs. “But 67% of drivers recently surveyed told us they would change their driving habits if gas hit $4.50 a gallon. That number rises to 75% at $5 a gallon. If pump prices keep rising, will people alter their summer travel plans? That remains to be seen.”

AAA Northeast’s May 31 survey of fuel prices found the current national average to be 3 cents higher than last week ($4.59), averaging $4.62 a gallon. Today’s national average price is 45 cents higher a month ago ($4.17), and $1.58 higher than this day last year ($3.04)

Courtesy of AAA