Massachusetts’ average gas price rose 23 cents in the past week to find a record high of $4.96 per gallon of regular unleaded.
Monday’s price is up 66 cents from one month ago and $2.03 per gallon above the same day last year, according to a Monday press release from travel group AAA Northeast. The state’s average gas price now floats 10 cents above the national average.Â
The jump follows a rise in domestic gasoline demand fueled by increased rates of travel over Memorial Day weekend, according to AAA. With increased oil demand outpacing the global supply, the cost per barrel of oil is approaching $120, nearly double from last August.
“People are still fueling up, despite these high prices,” said Mary Maguire, AAA Northeast director of public and government affairs. “At some point, drivers may change their daily driving habits or lifestyle due to these high prices, but we are not there yet.”
Nationally, gas prices reached a new record of $4.86, up 59 cents from one month ago and $1.81 from this day last year.
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