The average gasoline price in Massachusetts is now at $4.26 per gallon of regular unleaded, down 9 cents since last week, according to a report from the travel group AAA Northeast.
The decrease in fuel price comes after a record $4.33 per gallon was set on March 11. The decrease is primarily caused by the lower price of crude oil, now at $105 per barrel. Additionally, gasoline demand has decreased slightly, likely due to the high fuel prices, according to AAA.
“Usually this time of year, with warmer weather and longer days, we’d see an uptick in gasoline demand as more people hit the road,” said Mary Maguire, director of public and legislative affairs at AAA Northeast, in a written statement. “But demand was down slightly last week, likely due in part to higher pump prices. As geopolitical tensions continue unabated, we can expect to see more volatility in oil prices, leading to significant fluctuations in the price of gasoline and diesel in the near-term.
Nationally, fuel prices are down 7 cents from last week, and up 72 cents from one month ago.
