AAA: Gas Prices Down Five Cents in Massachusetts This Week

Photo Credit: AAA

HYANNIS – Gas prices in Massachusetts fell five cents over the past week.

AAA northeast reports that self-serve, regular unleaded is selling for an average of $1.94 per gallon.

That price is eight cents above the national average.

A year ago at this time, the average price in Massachusetts was 67 cents higher at $2.61 per gallon.

“We are seeing fast and furious gasoline demand destruction,” said Mary Maguire, Director, Public and Legislative Affairs.

“The latest data reveals demand levels not seen since the spring of 1968. Every U.S. region is seeing builds in gasoline inventories and crude storage, which is just driving pump prices even cheaper.”

On Sunday, the Organization of the Petroleum Exporting Countries plus (OPEC+), led by Saudi Arabia, announced historic global crude production cuts – nearly 10 million barrels per day in May and June.

“While the production cut is historic, it’s likely to not have an immediate impact on pump prices given the ongoing impact the COVID-19 pandemic continues to have on crude oil prices and gasoline demand,” said Maguire.

Prices on Cape Cod are between $1.51 and $2.29, according to GasBuddy.com.