BOSTON (WBZ NewsRadio) — The price of gas in Massachusetts surged to a new record high on Monday. The current price for a gallon of regular, unleaded gasoline in Massachusetts, is averaging $4.16 a gallon, according to AAA.
Industry experts said Russia's invasion of Ukraine is to blame. "The oil markets do not like volatility. Any time we see geopolitical tension involving a major oil producer — and Russia is one of the top three producers in the world — we know it will send shockwaves through the market," said AAA's Mary Maguire.
"It is absolutely not good," she said. The average price of gas in Massachusetts has shot up 54 cents in just the past week. The most expensive region to buy gas remains the Cape and Islands, where the priciest gallon is on Nantucket at $4.96.
Diesel still hasn't hit a record high yet — AAA said that record price of $4.92 a gallon was set in 2008.
WBZ's Drew Moholland (@DrewWBZ) reports: