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Massachusetts gas prices are about to spike as much as double digits this week, here is why
Westwood, MA, April 15, 2024—Buckle up – northeast gas prices are about to hit a bump in the road.
Gasoline prices, already on a seasonal upward trajectory, could spike by double digits this week once the switch to summer blend fuel officially occurs. Summer blend fuel, which helps reduce particulate emissions in warmer weather, is more costly to produce than its winter counterpart. An indication of what to expect: summer blend is currently trading at a 30-cent premium compared to winter blend in New York Harbor—one of the major trading ports that services the northeast.
The average gas price in Massachusetts is up five cents over last week ($3.32), averaging $3.37 per gallon. Today’s price is 10 cents higher than a month ago ($3.22), and two cents lower than April 8, 2023 ($3.39). Massachusetts’s average gas price is 26 cents lower than the national average.
“Oil prices took a slight breather last week, falling by about one percent, but it could just be a rest stop on the way to higher prices.” said Mark Schieldrop, Senior Spokesperson for AAA Northeast. “Escalating geopolitical tensions in the Middle East and expectations for strong seasonal gasoline demand could move markets higher.”
AAA Northeast’s April 15 survey of fuel prices found the current national average to be up four cents from last week ($3.59), averaging $3.63 a gallon. Today’s national average price is 20 cents higher than a month ago ($3.43), and three cents higher than this day last year ($3.66).
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dr david
April 15, 2024 at 10:27 pm
maybe a good reason but because summer-time existed while Trump was President it is not the real and primary reason is not the REAL reason … the real reason is a BIDEN BLEND of incompetence and relentless attacks on fossil fuel production infrastructure and delivery.
Trump loves the poorly educated suckers.....
April 16, 2024 at 10:42 am
This country is producing record amounts of oil surpassing even Saudi Arabia and exporting. The oil companies keep on making record profits. So what do you propose a president’s singlehandedly without Congress do? Nationalize the oil companies? Force capitalist corporations the drill more when they don’t want to? Do you understand the economics of a worldwide commodity? Do you understand capitalist corporations try to maximize their profit for maximum returns for their stockholders. Do you hold stocks in any energy companies? I do. My 401k is doing great!
MortisMaximus
April 16, 2024 at 12:25 pm
For one how about not emptying the strategic petroleum reserve. Secondly bombing the Nordic Stream Pipeline removed massive amounts of energy from world markets. Third banning American energy companies from doing business in international markets drives up prices. Fourth banning drilling permits on American soil might be a bad idea. Everyone is stupid except you. You are a complete hypocrite within a single paragraph. Prices on fuel should decrease simply because of the JoeBama regimes mandate for Electric Vehicles. But hey who cares about reality when the Green Sycophants who’ve stolen our country drive us into the stone age with their fantastical Climate Change Agenda? Political commentary is fun and everything but when reality hits people’s financial well being like it is now, don’t be surprised when DJT takes back the White House in 2024. NO to another STOLEN ELECTION!!!
Gary Dunn
April 16, 2024 at 12:19 am
Here we Go again Democrats losing touch with reality vote all red November
Let’s go Brandon did this
April 16, 2024 at 9:53 am
lol. I laugh at the headlines when we KNOW the reason. FJB
MortisMaximus
April 17, 2024 at 1:07 pm
https://www.zerohedge.com/markets/us-prepares-reimpse-venezuela-oil-ban-biden-seeks-scapegoat-resume-draining-spr