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Massachusetts gas prices drop for 8th consecutive week according to AAA
Westwood, MA, August 9, 2022 — According to AAA, Massachusetts’ average gas price is down 11 cents from last week ($4.46), averaging $4.35 per gallon. Today’s price is 41 cents lower than a month ago ($4.76), and $1.31 higher than August 9, 2021 ($3.04). Massachusetts’s average gas price is 32 cents higher than the national average.
“Oil accounts for almost 60 percent of pump prices, so with the price of oil dropping, prices at the pump follow suit,” said Mary Maguire, AAA Northeast Director of Public and Government Affairs. “Couple that with falling demand for gasoline, and you have a recipe for prices continuing to ease. It’s possible that the national average for regular unleaded gas could drop below $4 a gallon by the end of this week.”
AAA Northeast’s August 9 survey of fuel prices found the current national average to be 15 cents lower than last week ($4.18), averaging $4.03 a gallon. Today’s national average price is 66 cents lower than a month ago ($4.69), and 84 cents higher than this day last year ($3.19).
MortisMaximus
August 12, 2022 at 5:18 pm
Demand Destruction, the product of overpricing.