Another summer time week, one other drop in fuel costs.
The fuel worth development over the previous month continued final week as pump costs stored falling throughout Massachusetts. The Bay State’s common fuel worth on Monday was down 5 cents from final week’s $4.52, now averaging $4.47 per gallon for normal.
The present worth is 41 cents decrease than a month in the past ($4.88). The common is a 57-cent drop from the record-high worth of $5.04 in mid-June.
“It’s more good news for us,” Mark Schieldrop of AAA Northeast instructed the Herald on Monday. “The financial system and demand are pushing numbers down, so fuel costs ought to hold trending down as a result of demand is comparatively weak.
“Hopefully we will get below $4.00 over the next month,” he added. “It’s certainly a possibility.”
Massachusetts’ common fuel worth is 26 cents greater than the nationwide common, which fell to $4.21 on Monday — 14 cents down from final week.
Some states within the South have considerably decrease costs than within the Bay State. For occasion, Texas’ common worth is now $3.71, the common worth in Georgia is $3.76, Mississippi’s common worth is $3.77, and Alabama’s common worth is $3.78.
Also, final week’s drop of 5 cents in Massachusetts is decrease than the earlier weekly decreases. The common had gone down 11 cents throughout every of the prior three weeks.
“Prices aren’t falling as fast here, and that could be a reflection of local supply tightness compared to the rest of the country,” Schieldrop mentioned. “There’s somewhat localized provide and demand challenge right here within the Northeast.
“But we should continue to see declines here,” he added. “Other states have prices that are well below $4 a gallon, and we should follow suit hopefully in the next few weeks.”
While the common within the state is $4.47 per gallon, the common in Suffolk County is greater at $4.66. The common on Nantucket is $5.83, and the common on Martha’s Vineyard is $5.42.
The most cost-effective fuel within the state continues to be in western Massachusetts, the place the common in each Hampden and Franklin counties is all the way down to $4.25. The common in Hampshire County is $4.31. The finest cut price for fuel in japanese Massachusetts is in Bristol County, the place the common is now $4.37.
Source: www.bostonherald.com”