AAA says consumers are starting to change driving habits as gas prices approach $5 a gallon
BOSTON - Gas prices in Massachusetts are closing in on $5 a gallon. The state average hit $4.96 Monday, a new record high, according to AAA.
That's two cents higher than Sunday, and 23 cents higher than just a week ago. Monday's price is 66 cents higher than a month ago.
Gas prices are now averaging more than $5 a gallon in Suffolk County, and even higher on Martha's Vineyard and Nantucket.
"We're starting to see signs that these high prices are changing behavior overall though demand so far has been pretty resilient," said AAA spokesperson Mark Schieldrop.
According to a AAA survey, 75% of drivers said they would alter their driving habits if the price at the pump hits $5 a gallon. Schieldrop says there is anecdotal evidence that is starting to happen.
"So, they may not necessarily cancel a road trip, but they may look at ways to save on that road trip such as cutting back on buying souvenirs or choosing lodging accommodations that may not be as luxurious," Schieldrop said.
At a gas station in Cambridge, the price of regular gas was listed at $5.15. Drivers there said they were not changing their habits.
"I'm driving back and forth between Jersey and Mass. pretty often so still got to fill up the gas tank," one driver said.
At a BJs in Stoneham where the member price of regular gas was $4.81, drivers said they were starting to change their habits.
"We fill up before half a tank is gone so that way we don't have to pay so much at once," one woman said.
Schieldrop says the high prices at the pump continued to be fueled by pent up driving demand from the pandemic as well as the disruption of the world's oil supply due to the Russian invasion of Ukraine. Schieldrop says an increased demand for oil in China which is emerging from months of COVID lockdowns is not helping.
"China is the largest importer of oil in the world so as their economy comes back into play and people get back to normal business over there, their demand is expected to increase," Schieldrop said.
The national average is also a record-setting $4.86 a gallon, AAA says. California has the highest average price at $6.34 a gallon.
The price of diesel fuel in Massachusetts is holding steady at $6.23 per gallon. That's down 18 cents from a record high of $6.41 set on May 18.
