Gasoline prices in Massachusetts have jumped for the sixth straight week and are at their highest levels since August 2015.
AAA Northeast’s weekly survey Monday found the cost of self-serve regular has climbed 4 cents to average $2.32 per gallon. Prices have gone up 17 cents since they began rising six weeks ago.
The Massachusetts price is 10 cents below the national average for regular. A year ago at this time, the average price in the Bay State was 20 cents lower.
“The national average price for gasoline increased slightly each day last week, as demand is increasing with the start of the spring/summer driving season,” Mary Maguire of AAA said. “Market watchers are continuing to monitor OPEC’s ability to sustain production cuts as they try to rebalance global oil supply and impact crude oil prices.”
GasBuddy’s survey in Massachusetts found regular averaging $2.36, having shot up 3.7 cents. Its national average is $2.42.
“Gasoline prices saw another weekly lift, yet have begun to slow their ascent in recent days,” Patrick DeHaan of GasBuddy.com said. “Since mid-February, average gasoline prices have risen 17 cents — a far cry from the 41 cent gain during the same time a year ago. While the annual spring spike remains subdued, prices do remain 28 cents higher than a year ago, though the gap has narrowed.
“Overall, I would be surprised if we see the national average rise substantially more since the deadline for refiners to switch over to summer gasoline is nearly here,” DeHaan said. “U.S. oil production numbers are up, keeping pressure on oil prices, while gasoline inventories remain very healthy. While we may see the national average rise to the low side of our previous predictions of $2.51 to $2.83 a gallon for May, we’re unlikely to see anything higher.”
The range in prices in the latest AAA survey in the Bay State for regular is 31 cents, from $2.18 to $2.49. Midgrade is averaging $2.53, Premium $2.71.