SPRINGFIELD, Mass. (WWLP) – Average gas prices in Springfield have went up by 4 cents per gallon in the last week.
According to GasBuddy price reports after a survey of 257 stations in Springfield, gasoline prices have increased to an average of $3.49/g. The cheapest station in Springfield was priced at $3.24/g, and the most expensive station was $4.19/g. The highest price in the state Sunday was $4.99/g, a difference of $1.84/g.
“Prices go up, we need gas so you got to keep going to the pump,” said Isaac Williams of Springfield. “I think they’re going to go down. OPEC is going to make some decisions to drive the price down but while you’re in the war, you got to continue to battle.”
The national price of gasoline has fallen to 5.4 cents per gallon over the last week, averaging $3.86/g today. The national gasoline price is up 20.6 cents per gallon from a month ago and stands 56.6 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering more than 150,000 gas stations across the country.
Neighboring areas and their current gas prices:
- Worcester- $3.52/g, up 1.9 cents per gallon from last week’s $3.50/g.
- Connecticut- $3.44/g, up 6.0 cents per gallon from last week’s $3.38/g.
- Hartford- $3.42/g, up 5.4 cents per gallon from last week’s $3.37/g.
So what is driving this most recent increase in prices? OPEC Plus announced earlier this month they were cutting supply down. That increased the price for crude oil to $90 a barrel but we actually saw a decrease in that price to $85 on Friday. The reason why?
AAA points to concerns about a recession, decreasing demand. The Energy Information Administration reports demand for gas nationally went from 9.47 million barrels per day to just shy of 8.3 million.
“After a sharp rise in the national average over the last few weeks, we’ve seen an abrupt, yet expected decline as refinery issues have eased in the West and Great Lakes, overpowering some increases elsewhere. Though at the same time, diesel prices have soared,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “We’ll see a continued sharp drop in gas prices on the West Coast, including areas like Las Vegas and Phoenix, which are supplied by refiners in California, as refinery outages have been addressed. The Great Lakes will see prices drift lower as BP’s Whiting refinery is soon to complete maintenance. In addition, oil prices have cooled off slightly after OPEC+’s decision to cut production, and that should slow increases elsewhere. Diesel and heating oil prices are likely to continue to rise as extremely low inventories of middle-of-the-barrel products like these two push prices higher.”
Historical gasoline prices in Springfield and the national prices going back ten years:
- October 17, 2021: $3.20/g (U.S. Average: $3.30/g)
- October 17, 2020: $1.99/g (U.S. Average: $2.16/g)
- October 17, 2019: $2.45/g (U.S. Average: $2.67/g)
- October 17, 2018: $2.78/g (U.S. Average: $2.86/g)
- October 17, 2017: $2.52/g (U.S. Average: $2.45/g)
- October 17, 2016: $2.15/g (U.S. Average: $2.23/g)
- October 17, 2015: $2.11/g (U.S. Average: $2.26/g)
- October 17, 2014: $3.17/g (U.S. Average: $3.13/g)
- October 17, 2013: $3.44/g (U.S. Average: $3.35/g)
- October 17, 2012: $3.86/g (U.S. Average: $3.75/g)