HYANNIS – AAA Northeast is reporting a continued rise in gas prices across the state with the average price for a gallon of gasoline up eight cents from last week, averaging $5.04 as of Monday, June 13.
The price is 57 cents higher than a month ago and $2.10 higher than on June 13, 2021.
The statewide average is 3 cents higher than the national average of $5.01, which rose at an even sharper rate of 15 cents over the past week.
Regionally, Massachusetts continues to experience higher prices than Rhode Island and Connecticut, which are currently averaging $5.02 and $4.98, respectively.
AAA representatives report that the cost of a barrel of oil remains elevated as demand continues to outpace global supply despite continued releases by the Strategic Petroleum Reserve.
Despite the elevated prices, domestic demand for gasoline has not significantly weakened, creating speculation as to whether record prices will force consumers to cut back.
“With gas princes near or above five dollars, and inflation at a four-decade high, many consumers will begin to change their driving habits, but demand is still high,” said Mary Maguire, Director of Public and Government Affairs for AAA Northeast.
“After two consecutive summers of restricted travel and socialization, Americans seem more reluctant to stay home in spite of strain on their budgets.”
For up-to-date fuel price information, click here.
By, Matthew Tomlinson, CapeCod.com NewsCenter
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