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.