Gas Prices Continues To Drop Despite OPEC Announcement

HYANNIS – AAA Northeast recently reported that gas prices continue to fall, with average prices in Massachusetts dropping three cents over the past week to an average of 3.37 per gallon as of Monday, December 4, a 15-cent drop from last month and 30 cents lower than December 4 of last year.

The drop comes as national crude oil inventories reached their highest levels since July, bolstered by a surge in domestic oil production that, coupled with uncertainty about interest rates, was credited by AAA officials for continuing the downward trend despite OPEC’s recent announcement that it is planning to cut production by an additional million barrels per day.

The statewide average remains higher than the national average, which dropped one cent over the same weekly span to $3.24 per gallon, or a 17-cent drop from last December.

“Sixteen states now have an average price below $3 per gallon as the seasonal trend of lower demand takes hold,” said Mark Schieldrop, Senior Spokesperson for AAA Northeast.

“Northeast prices are still above the national average, but the gap is narrowing as we approach year’s end.”

Regionally, the price is equal to the average price per gallon in Connecticut, and seven cents higher than prices at the pump in Rhode Island.

About Matthew Tomlinson

Matt Tomlinson is a Cape Cod native studying to be a documentarian. He has been with the NewsCenter since 2021.
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