GAS PRICES UP FOR FIRST TIME IN TWO MONTHS; SUPPLY AND DEMAND, REFINERY FIRE ALL FACTORS
Gas prices are higher in half of the U.S. states this week, including Massachusetts where a three-cent jump is the first increase since early May, according to AAA Northeast. Higher crude oil prices, robust demand and shrinking supply, plus the closure of a major northeast refinery in Philadelphia are all factors showing up at the pump.
AAA’s July 1 survey of prices in Massachusetts finds self-serve, regular unleaded averaging $2.67 per gallon. The Massachusetts price is four cents lower than the national average for regular unleaded of $2.71. A year ago at this time, the average price in Massachusetts was seventeen cents higher at $2.84.
“For the more than 41 million motorists hitting the road this week to celebrate the Independence Day holiday, they will find gas prices cheaper than Memorial Day weekend, but more expensive than they’ve been paying the last few weeks,” said Mary Maguire, Director of Public and Legislative Affairs. “It’s typical to see increases at the pump ahead of the holiday, but we may see prices continue to jump throughout the month due to refinery interruptions on the East Coast, increasing demand and fluctuations in crude oil price.”
The range in prices in the latest AAA survey for unleaded regular is 62 cents, from a low of $2.43 to a high of $3.05. AAA advises motorists to shop around for the best prices in their area, and to make sure they and their passengers buckle up — every time.
Today’s local gas prices and their ranges are as follows:
Self Serve Grade
$2.67 ($2.43-$3.05) Regular Unleaded
$2.88 ($2.63-$3.25) Midgrade Unleaded
$3.04 ($2.83-$3.45) Premium Unleaded
$3.01 ($2.79-$3.39) DieselFind the most up-to-date local gas prices with the AAA Fuel Finder by visiting AAA.com/FuelFinder.