Massachusetts gasoline prices continued to decline in the past week, falling 11 cents to an average of $4.63 per gallon of regular unleaded on Monday.
The price is down 38 cents from this time in June. The states’ average gas prices are still up $1.61 from this time last year, according to a Monday press release from travel association AAA Northeast.
The decline follows a drag in the domestic demand for pumped gas. Decreased global oil demand is a contributing factor, as the cost for a barrel has fallen from $110 to the mid-$90s in two weeks.
“Global economic news is pushing oil prices lower and less expensive oil leads to lower pump prices,” said Mary Maguire, AAA Northeast director of public and government affairs. “And here at home, people are fueling up less, despite this being the height of the traditional summer driving season. These two key factors are behind the recent drop in pump prices.”
Massachusetts’ price remains above the national average by 11 cents per gallon.
