HYANNIS – AAA Northeast recently reported that in-state gas prices have risen following a nearly two-month streak of declines, falling in line with seasonal trends in anticipation of a busy Fourth of July holiday and concerns about an active hurricane season, which has already seen the formation of a massive Category 5 storm in Hurricane Beryl.
The average gas price in Massachusetts as of Monday is three cents higher than last week, averaging $3.46 per gallon.
The current price is 3 cents lower than the national average, and 9 cents lower than it was at this time last year.
Regional neighbors Rhode Island and Connecticut are currently experiencing average prices of $3.43 per gallon and $3.56 per gallon, respectively.
“Now that school’s out and the summer driving season is in full swing, gas prices are trending up on the expectations of stronger demand ahead of the July 4 holiday,” said Mark Schieldrop, Senior Spokesperson for AAA Northeast.
The Energy Information Administration says national gas inventories grew by 2.5 million barrels last week, while the Northeast saw a dip of 200,000 barrels from regional storage.
“Summer got off to a slow start with low gas demand,” he said, “but with a record 60 million travelers expected to take road trips for the holiday, higher oil prices, and lower regional inventories, prices could continue to climb in the short term.”
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