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Nationwide Common Surged 16 Cents
The typical gasoline worth in Massachusetts is up ten cents from final week ($3.57) as of July thirty first, averaging $3.67 per gallon. This worth is 12 cents greater than a month in the past ($3.55), and .90 cents decrease than July 31, 2022 ($4.47). Total, Massachusetts’ common gasoline worth is eight cents decrease than the nationwide common.
The nationwide common for a gallon of gasoline awoke from a months-long slumber, surging 16 cents since final week to $3.75. The first trigger seems to be the value of oil, which has marched practically $4 greater previously few days to move $80 per barrel. As oil accounts for nearly 50 p.c of the price of a gallon of gasoline, greater oil costs often imply greater pump costs.
“Fuel demand, that means folks fueling up, stays tepid. It’s decrease now than presently final 12 months and in 2021,” mentioned Mary Maguire, AAA Northeast’s Vice President of Public and Authorities Affairs. “However whereas the warmth could also be preserving some people residence, it additionally suppresses refinery manufacturing, in line with specialists. Constrained provides and the next price of oil are tipping the stability towards rising pump costs for now.”
AAA Northeast’s July 31 survey of gas costs discovered the present nationwide common to be 16 cents greater than final week ($3.59), averaging $3.75 a gallon. Right this moment’s nationwide common worth is .21 cents greater than a month in the past ($3.54), and is .47 cents decrease than at the present time final 12 months ($4.22).
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