The average price of gasoline in Massachusetts jumped 9 cents from last week to this one, the biggest jump in nearly two years, according to AAA Northeast.
A gallon of self-serve regular is now $2.56, AAA reported Monday in its weekly survey of gas stations. It said the jump is in good measure due to the wintry weather that wreaked havoc on the South, particularly Texas.
The price increase is the largest one-week hike since they shot up 10 cents to $2.79 the end of April 2019, records show.
Costs rose 3 cents last week and 5 cents the previous week as crude oil prices increased substantially and the so-called “pandemic discount” evaporated.
The current price is 20 cents higher than a month ago and 7 cents higher than a year ago.
Massachusetts’s average gas price is also 7 cents lower than the national average, which climbed 13 cents from last week.
In Rhode Island, regular is averaging $2.55, up from $2.46 from a week ago.
“When close to 40% of crude production is offline because refineries are closed, there is going to be pain at the pump until operations resume,” Mary Maguire of AAA said. “The good news is the nearly two dozen impacted refiners are expected to restart operations this week, if they haven’t already.”
All major Gulf Coast refineries were impacted by the recent storm, which has caused gas supplies to tighten and pump prices to increase, AAA said.
“The situation is very similar to a Gulf Coast hurricane’s impact,” Maguire said. “Refineries come offline, and until damage (if any) is assessed and operations are back up and running, supply is tight, especially with road conditions and power outages (mostly in Texas) reducing fuel deliveries — if stations even have power to accept them.”
Crude oil prices increased earlier this month following OPEC’s decision to keep their production cuts unchanged — a move influenced by the ongoing impact of the pandemic on gasoline demand. Crude has not been priced as high since January 2020.