BARNSTABLE – With more than a month left in the summer of 2023, residents are paying an average of $3.77 per gallon at gas stations, which is .21 cents higher than a month ago, but .40 cents lower than August of 2022.
The regional average price is also nine cents lower than the national average around the country.
Oil prices ended lower last week for the first time since June on concerns about weaker demand from an economically-stressed China, along with an expectation that the Federal Reserve will continue raising interest rates.
“Gas Prices are flat as the summer driving season comes to a close” said Mark Schieldrop, AAA Northeast Public Affairs Specialist.
“Late summer gasoline demand has softened as Americans shift from vacation planning to back-to-school preparations. But the calm in gas markets could end abruptly in the coming weeks depending on hurricane activity over the Atlantic Ocean. One large storm can cause significant disruption to coastal oil and gas infrastructure,” Schieldrop said.
AAA Northeast’s August 21 survey of fuel prices found the current national average to be one cent higher than last week, averaging $3.86 a gallon.
Today’s national average price is .28 cents higher than a month ago and is .04 cents lower than last year at this time.
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