News Summary
Gas prices in Massachusetts have dropped to an average of $2.92 per gallon, marking a decrease for the fourth consecutive week. Although this reflects a slight increase of 3 cents compared to last month, prices are 9% lower than a year ago. The state average is significantly lower than the national average of $3.12. Local variations in prices are noted, with Springfield averaging $2.88. Experts suggest ongoing economic factors contribute to the decline, yet potential fluctuations are expected as the summer driving season approaches.
Massachusetts Sees Average Gas Prices Drop to $2.92 per Gallon
As of Monday, gas prices in Massachusetts have reached an average of $2.92 per gallon for regular fuel, marking a decrease for the fourth consecutive week, according to the latest data from the U.S. Energy Information Administration (EIA). This represents a slight increase of about 3 cents compared to last month.
Over the past year, gas prices in the state have exhibited notable fluctuations, ranging from a low of $2.88 to a high of $3.60. The lowest price was recorded on April 14, 2025, while the highest was noted on April 29, 2024. Notably, the current average is 9% lower than a year ago when it stood at $3.22 per gallon.
Comparison with National Average and Local Insights
The average gas price across the United States last week was $3.12, making Massachusetts prices approximately 6.6% lower than the national average. The national average has seen a decline from the previous week’s figure of $3.15 per gallon.
In Springfield, recent reports from GasBuddy indicate that gas prices have decreased by 2.2 cents per gallon over the past week, now averaging $2.88. The most affordable station in Springfield is selling fuel for $2.59, while the highest price is $3.09. This represents a significant variance in local pricing.
Statewide Price Variance and Historical Context
At the statewide level, the highest recorded gas price was $3.69, indicating a difference of $1.10 per gallon compared to the lowest price found in Springfield. Neighboring cities like Worcester and Hartford report average gas prices of $2.92 and $2.97 respectively, while Connecticut’s average stands at $3.00.
Historical data reflects significant price changes in Massachusetts, with gasoline prices reaching highs of $4.39 in 2022 and dropping as low as $1.82 in 2020. This historical perspective highlights the volatility of the gasoline market over the years.
Economic Factors Influencing Gas Prices
Nationally, the average gasoline price as of Monday is $3.08, which marks a decline of 8.6 cents per gallon compared to the previous month and is 50.6 cents lower than the same time last year. AAA Northeast is reporting an average price of $2.99 per gallon in Massachusetts, reflecting a slight decrease of 2 cents from the prior week.
Experts suggest that the ongoing decline in gas prices can be attributed to decreasing crude oil prices alongside economic uncertainty. Although OPEC’s recent decision to increase production aims to stabilize the market, it may lead to potential increases in prices, particularly as the switch to summer gasoline takes place. As the Memorial Day driving season approaches, gas prices are expected to fluctuate, indicating more changes ahead for consumers.
Implications of Falling Gas Prices
The economic implications of this trend suggest a complex scenario. While lower gas prices can be seen as a relief for consumers, they may also reflect underlying market challenges such as decreased demand or broader economic issues. The ultimate impact on consumer behavior and the economy remains to be seen as these fluctuations continue to evolve.
Deeper Dive: News & Info About This Topic
- WWLP: Gas Prices Fall in Western Massachusetts
- Google Search: Gas Prices Massachusetts
- Boston 25 News: Gas Price Changes in MA
- Wikipedia: Gasoline Pricing
- NBC Boston: Gas Prices Lower than Usual in MA
- Encyclopedia Britannica: Fuel
- Western Mass News: AAA Reports Gas Price Drops
- Google News: Massachusetts Gas Prices
