Gas prices in Massachusetts reach $4 a gallon average for first time since 2022
Gas prices in Massachusetts have officially reached the $4 mark for the first time in more than three years.
According to AAA, the average price for a gallon of gasoline in Massachusetts hit $4.03 on Sunday and then rose again to $4.05 Monday.
A month ago, the price was $3.78.
The good news is Massachusetts remains below the national average, which was $4.11 on Monday.
When will gas prices go down?
Oil prices rose Monday as hopes for a peace deal between the U.S. and Iran dimmed and shipments through the Strait of Hormuz remain severely restricted.
"Because the price of oil makes up more than half of the price we pay at the pump, gas prices continue to be heavily impacted by the latest swings in oil prices," said Jillian Young, a spokesperson for AAA Northeast. "With refineries selling the more expensive summer-blend gasoline and the busiest driving season ahead of us, those factors may contribute to additional upward pressure on gas prices."
Even if oil shipping resumes in the Strait of Hormuz, experts have said any drop at gas stations would likely take a couple of weeks.
"Typically, it never works that way because you remember they have already paid a higher price point for the gasoline that is sitting in their underground tanks, so that has to kind of drain out for it to economically make sense," Matt McClain, an analyst for GasBuddy, told WBZ-TV last month.
Massachusetts gas tax
There has been discussion about putting the gas tax in Massachusetts on hold during the price surge, but Gov. Maura Healey has refused to comment on it. All of her Republican opponents in the governor's race supported a pause on the tax.
The last time the average gas price in Massachusetts was $4 a gallon was back in September 2022. That was just months after the state set a record high of $5.05 a gallon in June 2022, according to AAA.
