Gasoline Costs Are 9 Cents Decrease Than This Day Final 12 months
Westwood, MA, July 1, 2024 – After a virtually two-month streak of declines, fuel costs within the Northeast are on the rise—a return to the seasonal development that’s typical this time of yr.
Despite the fact that gasoline demand dipped final week to eight.96 million barrels a day, down from 9.38 million barrels a day the prior week, in line with the Power Info Administration, greater oil costs, rising worries about an energetic hurricane season and tightening inventories in our area have brought on fuel costs to alter course. Whereas nationwide gasoline inventories grew by a large 2.5 million barrels in whole final week, right here within the Northeast, about 200,000 barrels have been shed from regional storage.
The typical fuel value in Massachusetts is up three cents over final week ($3.43), averaging $3.46 per gallon. Immediately’s value is 5 cents decrease than a month in the past ($3.51) and 9 cents decrease than at the present time final yr ($3.55). Massachusetts’s common fuel value is three cents decrease than the nationwide common.
“Now that college’s out and the summer season driving season is in full swing, fuel costs are trending up on the expectation of stronger demand forward of the July 4 vacation,” mentioned Mark Schieldrop, Senior Spokesperson, AAA Northeast. “Summer season acquired off to a gradual begin with low fuel demand, however with a document 60 million vacationers anticipated to take street journeys for the vacation, greater oil costs and decrease regional inventories, costs may proceed climb within the brief time period.”
AAA Northeast’s July 1 survey of gasoline costs discovered the present nationwide common up 5 cents from final week ($3.44), averaging $3.49 a gallon. Immediately’s nationwide common value is 5 cents decrease than a month in the past ($3.54) and 4 cents decrease than at the present time final yr ($3.53).
| Area | Present Value* | One Week In the past | One Month In the past | One 12 months In the past |
| Massachusetts | $3.46 | $3.43 | $3.51 | $3.55 |
| Rhode Island | $3.43 | $3.38 | $3.50 | $3.51 |
| Connecticut | $3.56 | $3.54 | $3.63 | $3.62 |
*Costs as of July 1, 2024
The AAA Gas Prices web site is your useful resource for up-to-date gasoline value info. Search common fuel costs by Common, Plus, Premium and Diesel on Nationwide and State ranges, in addition to Metro areas.
AAA Northeast is a not-for-profit auto membership with places of work in Rhode Island, Massachusetts, Connecticut, New Jersey, New Hampshire and New York, offering greater than 6.5 million native AAA members with journey, insurance coverage, finance, and auto-related providers.
