Economy

MA gas prices down a nickel per gallon

MA gas prices down a nickel per gallon”

Meanwhile, Hurricane Nate's damage to refineries and other Gulf Coast energy infrastructure appeared to be minimal, even though almost all oil production was temporarily shut down.

Despite the recent declines, gas prices remain elevated compared to a year ago.

Even though another hurricane swept across the Gulf of Mexico this past weekend, the average price that consumers pay for gasoline dropped again this week, according to AAA.

MA drivers are getting some relief at the pump as the average cost of gas has dropped a nickel in the past week.

"Despite the slump at the pump, regular unleaded remains 23 cents more than this time past year, as prices remain inflated from supply and demand issues related to recent hurricanes".

The Energy Information Administration measured gasoline demand at 9.2 million barrels per day, 281,000 barrels less than last week. It will take the next week or so to know what lies ahead for gas prices across the south.

"Gas prices have fallen steadily for the past four weeks and now we are seeing gasoline demand drop alongside prices", Jeanette Casselano, AAA spokeswoman, said.

People are spending less at the pump this week across the country. "Gulf Coast refining and delivery systems continue to move toward normal operations".

Overall, motorists will see minimal to no impact to gas prices in the region hit by the storm, AAA said.

Georgia and MI had the nation's largest price drop, 10 cents, followed by Ohio, Indiana, and SC at 9 cents.

AAA also found a 50-cents range in prices for self-serve, regular, from a low of $2.29 to a high of $2.79 per gallon.

The drop in demand combined with ample supply has kept downward pressure on crude oil prices. Hawaii and California have the highest prices at $3.11 and $3.06 respectively.

Find the most up-to-date local gas prices with the AAA Fuel Finder by logging onto AAA.com and clicking on Gas Saving Tips & Tools.



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