Mass. gasoline prices drop again, expected to tumble further
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Massachusetts gas prices continue to fall in September.
Continuing its downward trajectory, the average prices of gasoline in Massachusetts dropped six cents over the past week as the international price of crude oil nears a three-year low.
“Domestic refiners are producing more gasoline than the market can swallow, and that means pump prices could soon reach lows not seen in years,” Mark Schieldrop, senior spokesperson for the travel association AAA Northeast, said in a Monday press release from the organization. “Aside from a major hurricane threatening the Gulf Coast, or an escalation in geopolitical tensions, the market is poised to keep pointing down.”
Monday’s statewide average of $3.20 per gallon of regular unleaded gasoline is 21 cents lower than a month ago and 57 cents lower than this day last year when the price sat at $3.77 per gallon, according to AAA.
The average Massachusetts gas price is the same as the national average, which decreased 23 cents over the month and is down 67 cents from the $3.87 average of this day last year.
The state’s lowered gas prices come as oil benchmark Brent crude futures decreased to $69.19 a barrel on Tuesday, a $2.65 drop and the lowest level since December 2021, according to a report by Reuters. In addition, U.S. West Texas Intermediate crude dropped by $2.96 to $65.75 a barrel, a 5% dip reflecting its lowest levels since May 2023.
On Monday, the average price of gasoline in Worcester County fell $3.21 per gallon, a 5-cent decrease from Tuesday and a 19-cent drop in the last month, according to AAA. The region’s price is 50 cents lower than last year.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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