MASSACHUSETTS – AAA Northeast is predicting falling gas prices for Massachusetts drivers this fall. The projected drop of 25 cents is attributed to cheaper crude Oil, the expected decline in demand after Labor Day and the transition to winter-blend gasoline.
“As people settle back into their jobs, kids are going back to college we always see a plump in demand for gas. That combined with the fact that oil prices have been relatively cheap and stable for the past few months in the neighborhood of 55 dollars a barrel, will contribute in keeping gasoline prices lower and lower this fall”, said AAA Northeast Director of Public and Legislative affairs Mary Maguire
The falling prices have projected benefits for Cape Businesses this fall according to Maguire.
“When consumers spend less at the pump they have more money to spend on other things, so when gas prices drop I think there’s always a terrific ripple effect for the economy.”
“I think certainly that the fact we have falling gasoline prices we lead to more day trips, more spontaneous travel to the cape for example and that can only be a good thing for Cape Cod.”
In the past year prices were lowest in Massachusetts in February at 2.38 a gallon, and highest in May at 2.85.
Since Memorial Day gasoline stocks have fluctuated between 58-65 million barrels in the energy information administration’s weekly report.
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