Economy

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.



Like this

loading...
loading...

Latest


12 October 2017
Earnings Analysis Of Newmont Mining Corporation (NEM)
The Firm is primarily a gold producer with activities and/or assets in the United States, Australia, Peru, Ghana and Suriname. The firm has "Buy" rating given on Wednesday, June 28 by BMO Capital Markets. (NYSE:COF) rating on Tuesday, January 3.

12 October 2017
Qualcomm Fined $773 Million for Antitrust Violations in Taiwan
The Taiwan Fair Trade Commission has fined Qualcomm, the San Diego-based chipmaker, NT $23.4 billion for antitrust violations. The company has said the suit is based on flawed legal theory and misconceptions about its business.

12 October 2017
Grand jury reportedly looking into potential violations by Oklahoma State
The grand jury also is demanding communications with any parent of any current member of the basketball team. He has since been suspended by Oklahoma State and is expected to appear in court on Thursday.

12 October 2017
Amazon's Alexa can recognize the voices of multiple users
For instance, if I tell Alexa simply to "play music", she'll start playing songs based on my preferences. And, if she doesn't recognize who's speaking, she'll just revert to the default Alexa experience.

12 October 2017
Dissecting the Insider Trading Patterns of Bank of America Corporation (BAC)
It increased, as 40 investors sold NFX shares while 133 reduced holdings. 120 funds opened positions while 577 raised stakes. CIBC reiterated an outperform rating on shares of Bank of America Corporation in a research report on Tuesday, July 11th.

12 October 2017
First Data Corporation (FDC) has a market cap of $16.41 Billion
The lowest price target is presently $N/A and the analyst with the most aggressive opinion sees the stock going to $N/A. The Return on Equity (ROE) and Return on Investment (ROI) values are 41.5 percent and 7.4 percent respectively.

12 October 2017
Emre Can slams Liverpool's poor defensive record
I still believe that if we had scored those goals then we would have those matches and nobody would talk about our defence. As a team, we all want to work with him. "We play good football and follow his plan".

12 October 2017
Barack Obama to Make First Campaign Appearance Since Leaving Office
Obama carried Virginia in both 2008 and 2012, and announced that he would campaign for Northam earlier this summer. Polls compiled by RealClearPolitics show Northam leading Gillespie by around 7 points for the November 7 contest.

12 October 2017
Pizza Hut's New Delivery Bags Keep Your Pizza So Much Hotter
How? With a pouch made of high-tech insulation and a "re-engineered pizza box". The company spent more than 2 years developing the technology.

12 October 2017
Barclays Keeps Rating And Raises Price Target On Chevron Corporation (CVX)
Amica Mutual Insurance Company holds 0.44% of its portfolio in Chevron Corporation (NYSE:CVX) for 46,179 shares. Livforsakringsbolaget Skandia Omsesidigt has invested 0.63% of its portfolio in Chevron Corporation (NYSE:CVX).