Massachusetts Gas Prices Drop 2 Cents Amid 'Fears Of A Possible COVID-19 Global Economic Slowdown,' AAA Says
BOSTON (CBS) -- Gas prices are going down in Massachusetts. The average price per gallon in the state dropped 2 cents from last week to $3.40, AAA said.
The state average is still 5 cents higher than the national average of $3.35 per gallon.
"Pump prices fell as fears of a possible COVID-19 global economic slowdown pushed oil prices into the mid $60s per barrel—a price not seen since August," AAA Northeast said in a statement. "Also helping to ease upward pricing pressure was the decision by OPEC and its oil-producing allies not to cut production."
The price of gas in Massachusetts is the same as it was a month ago, and $1.30 higher than at this time last year.
"Consumers may be catching a break at the pump right now, but it's not for a very good reason," AAA Northeast's Mary Maguire said in a statement. "A potential COVID-19 induced economic slowdown hurts everyone and could prompt OPEC to slash production if oil prices drop too low."
