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BOSTON (WBZ NewsRadio) — Massachusetts drivers are still facing pain at the pump this week, but the latest numbers from AAA show prices are on a steady decline.
The average price of a gallon of regular gas in The Commonwealth is now at $4.93, which is down seven cents from last week and down 11 cents from two weeks ago, according to AAA. This puts Massachusetts at four cents over the national average price of $4.89.
This drop comes after Massachusetts set a new record high average price earlier this month of $5.04. Even as prices drop, gas prices are still at unprecedented highs here in Massachusetts. This time last month the average gas price in The Commonwealth was $4.73, while this time last year the average price was $2.98, nearly two dollars cheaper.
AAA attributes the recent drop in gas prices to a drop in global oil prices in reaction to fears of a possible global recession.
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“Fear is not a good reason to move a market like the one for oil, but it is a powerful motivator,” Mary Maguire, AAA Northeast Director of Public and Government Affairs, said in a statement. "The cost of oil accounts for nearly $3 for every $4.89 at the gas pump. Consumers should find more relief when fueling up if oil prices drop further."
Other New England states are seeing a steady decline in average gas prices as well. Rhode Island's average price dropped from $4.97 to $4.90, while Connecticut's dropped from $4.94 to $4.86 over the last week.
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