FRAMINGHAM – Massachusetts’s average gas price is up two cents from last week ($2.17), averaging $2.19 per gallon.
Today’s price is 12 cents higher than a month ago ($2.07), and 37 cents cheaper than December 28, 2019 ($2.56). Massachusetts’s average gas price is 6 cents lower than the national average.
The Energy Information Administration (EIA) measures weekly gasoline demand at 8 million b/d, up from the previous week, while gasoline stocks decreased about one million bbl down to 237.7 bbl. Typically, this combination would result in cheaper gas prices, but with crude oil pricing at the highest levels since February, that is not the case. Additionally, optimism about the economy as COVID-19 vaccine distribution ramps up has contributed to the upward push on gas prices.
“December has seen the biggest pump price jump of any month this year, ending with a national average 11 cents higher than it began,” said Mary Maguire, Director of Public and Government Affairs for AAA Northeast, in a press release. “Despite low demand, pump prices are more expensive because crude oil has seen steady gains.”
AAA Northeast’s December 28 survey of fuel prices found the current national average to be three cents higher than last week (2.22), averaging $2.25 a gallon. Today’s national average price is 13 cents higher than a month ago ($2.12), and 32 cents cheaper than this day last year ($2.57).
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*Prices as of December 28, 2020
AAA Northeast is a not-for-profit auto club with 64 offices in Rhode Island, Massachusetts, Connecticut, New Jersey, New Hampshire and New York, providing more than 5.7 million local AAA members with travel, insurance, finance, and auto-related services.