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Northeast gasoline costs are rising as oil refineries throughout the nation are pumping the brakes on gasoline manufacturing for deliberate and unplanned downtime.
Nationwide, refinery utilization—a measure of how a lot crude oil refineries are processing—reached the bottom stage in additional than a yr, in keeping with the Power Info Administration. That led to a serious construct in crude inventories and a decline within the sturdy reserves of winter mix gas which have been retaining a lid on costs for the reason that begin of the brand new yr.
The typical gasoline worth in Massachusetts is 2 cents larger than final week ($3.16), averaging $3.18 per gallon. Right now’s worth is 6 cents larger than a month in the past ($3.12), and 17 cents decrease than Feb. 19, 2023 ($3.35). Massachusetts’s common gasoline worth is 9 cents decrease than the nationwide common.
“A couple of weeks in the past, refiners had been involved about weak demand and a possible oversupply of winter mix gasoline as we approached the spring, however these fears are rapidly dissipating,” mentioned Mark Schieldrop, Senior Spokesperson for AAA Northeast. “Gasoline costs are more likely to improve as extra refineries endure seasonal upkeep, particularly with ongoing tensions within the Center East placing upward strain on oil costs.”
AAA Northeast’s Feb. 19 survey of gas costs discovered the present nationwide common to be 8 cents larger than final week ($3.19), averaging $3.27 a gallon. Right now’s nationwide common worth is nineteen cents larger than a month in the past ($3.08), and 14 cents decrease than at the present time final yr ($3.41).
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