business
Ticker: Gas prices drop in Bay State; CCC names acting executive director
Gas prices have dropped a nickel in the last week, hitting $3.64 in Massachusetts despite the war in Israel and the decision by OPEC countries earlier this year to ratchet down production. The price at the pump is a full 13 cents lower than just a month ago.
“Domestic gasoline prices have continued their daily decline despite uncertainty and volatility gripping oil markets last week after the outbreak of war in Israel …” said AAA Northeast Senior Spokesperson Mark Schieldrop. “Meanwhile, domestic oil production reached an all-time high last week and demand remains tepid, which suggest further price drops at the pump in the weeks ahead.”
Gas in Massachusetts is running about 4 cents higher than the national average, which came in at $3.60 per gallon in the most recent survey.
In an unexpected turn, Green Dragon, one of the largest dispensary chains in Colorado, will keep its stores and grow facility open.
The retailer’s parent company, California-based Eaze, got an infusion of $10 million from its owner, Jim Clark, to remain operating, it announced Tuesday. Clark, the billionaire founder of the defunct tech firm Netscape, foreclosed on the company’s assets in August for $54 million.
“We’ve just been working with the new ownership group to assess what we’re doing in the future,” said Cory Azzalino, Eaze’s CEO. “It’s nothing world-shaking, but I’m excited to keep going.”
The first dispensary chain founded by Alex Levine, Andy Levine and Lisa Leder is preparing to cease operations in Colorado, three years after they sold it.
But they have high expectations for take two — their new chain, Fired Cannabis.
“Our plan is to get back to where we were,” said Alex Levine. “It’s just a long detour.”
At least 384 flights were canceled and 467 delayed at Denver International Airport on Friday as heavy snow pelted metro Denver and Colorado’s eastern plains.
The Federal Aviation Administration activated a traffic management program for flights bound for DIA “due to weather/snow-ice.” The average delay for flights under this plane was one hour and 50 minutes, FAA officials said, adding that departing flight schedules also may be affected by the weather.
There were 851 total delayed and canceled flights at DIA as of 11:45 a.m., according to Flight Aware. SkyWest reported the most cancellations with 183, followed by Southwest with 124, and Frontier with 30.
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