Heading into Valentine’s Day, Massachusetts drivers seeing lower price at the pump, a trend that may continue in the immediate future

Westwood, MA, February 13, 2023 — Heading into Valentine’s Day, Massachusetts drivers are seeing a decrease in the cost of a gallon of gas, a trend that may continue, at least in the immediate future.

According to AAA, the average gas price in Massachusetts is down 4 cents from last week ($3.42), averaging $3.38 per gallon. Today’s price is 8 cents higher than a month ago ($3.30), and 11 cents lower than February 13, 2022 ($3.49). Massachusetts’ average gas price is 3 cents lower than the national average.

“Drivers may have a little more in their wallets as we head toward Valentine’s Day,” said Mary Maguire, AAA Northeast Vice President of Public and Government Affairs, “and if gas demand and oil costs remain low, drivers will likely see pump prices drop through next week.”

According to new data from the Energy Information Administration (EIA), gas demand dipped slightly from 8.49 million to 8.43 million barrels per day (b/d) last week. The current gas demand rate is approximately 700,000 b/d lower than the rate during the first week of February 2022, helping to explain why gas prices are declining. Meanwhile, total domestic gasoline stocks increased significantly by 5 million barrels (bbl) to 239.6 million bbl last week. If gas demand remains low amid growing total domestic stocks, pump prices will drop further.

AAA Northeast’s February 13 survey of fuel prices found the current national average to be 6 cents lower than last week ($3.47), averaging $3.41 a gallon. Today’s national average price is 13 cents higher than a month ago ($3.28), and is 7 cents lower than this day last year ($3.48).