Gas Prices Are 9 Cents Lower Than This Day Last Year
Westwood, MA, July 1, 2024 – After a nearly two-month streak of declines, gas prices in the Northeast are on the rise—a return to the seasonal trend that’s typical this time of year.
Even though gasoline demand dipped last week to 8.96 million barrels a day, down from 9.38 million barrels a day the prior week, according to the Energy Information Administration, higher oil prices, increasing worries about an active hurricane season and tightening inventories in our region have caused gas prices to change course. While national gasoline inventories grew by a sizable 2.5 million barrels in total last week, here in the Northeast, about 200,000 barrels were shed from regional storage.
The average gas price in Massachusetts is up three cents over last week ($3.43), averaging $3.46 per gallon. Today’s price is five cents lower than a month ago ($3.51) and nine cents lower than this day last year ($3.55). Massachusetts’s average gas price is three cents lower than the national average.
“Now that school’s out and the summer driving season is in full swing, gas prices are trending up on the expectation of stronger demand ahead of the July 4 holiday,” said Mark Schieldrop, Senior Spokesperson, AAA Northeast. “Summer got off to a slow start with low gas demand, 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 climb in the short term.”
AAA Northeast’s July 1 survey of fuel prices found the current national average up five cents from last week ($3.44), averaging $3.49 a gallon. Today’s national average price is five cents lower than a month ago ($3.54) and four cents lower than this day last year ($3.53).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Massachusetts | $3.46 | $3.43 | $3.51 | $3.55 |
| Rhode Island | $3.43 | $3.38 | $3.50 | $3.51 |
| Connecticut | $3.56 | $3.54 | $3.63 | $3.62 |
*Prices as of July 1, 2024
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search average gas prices by Regular, Plus, Premium and Diesel on National and State levels, as well as Metro areas.
AAA Northeast is a not-for-profit auto club with offices in Rhode Island, Massachusetts, Connecticut, New Jersey, New Hampshire and New York, providing more than 6.5 million local AAA members with travel, insurance, finance, and auto-related services.
