Gasoline Down Four Cents Per Gallon in Massachusetts

Gas prices are on their way down in northern New England.

Metro Detroit’s current daily gas price average is about $2.40 per gallon, about 9 cents less than last week’s average and about 57 cents less than this same time past year.

According to GasBuddy historical data, gasoline prices on July 5 in OH have ranged widely over the last five years: $2.71 per gallon in 2015, $3.57 per gallon in 2014, $3.40 per gallon in 2013, $3.35 per gallon in 2012 and $3.57 per gallon in 2011. The rate, adjusted for inflation, rises by nine-tenths of a cent from the previous increase on January 1 to 33.5 cents per gallon. That’s up 1.2 percent from past year, continuing what is expected to be a historic summer driving season.

“Refineries are reportedly increasing output and gasoline supply has more than kept pace with growing demand”, according to the auto club.

Analysts are forecasting for gas prices to keep retreating into late summer and autumn.

In fact, the average price has declined for 27 consecutive days in Florida.

A quick check of the nation’s gas price climate finds over 20,000 gas stations selling a gallon of gasoline under $2 per gallon, a huge spike versus three weeks ago when sub $2 a gallon gasoline was almost extinct. One year ago, a gallon of regular gas averaged $2.773 in the United States, more than 50 cents a gallon higher than this year.

According to GasBuddy.com, the average price nationwide is around $2.30/gallon, dropping from $2.78/gallon past year at this time. About GasBuddy.com GasBuddy is the premiere source for real-time local gas prices.