Summer gas price fall continues in Maine

Posted July 20, 2015, at 10:23 a.m.

PORTLAND, Maine — The average price of a gallon of gasoline in Maine was down again last week by almost three cents, following a national decline of about one cent per gallon.

The price tracking website GasBuddy reported the average price across Maine was $2.75 per gallon for regular gasoline Sunday, down from about $2.78 one week prior.

Prices rose along the West Coast due to refinery issues, but GasBuddy senior petroleum analyst Patrick DeHaan said crude oil forecasts tell of another fall where averages in many states could fall below $2 per gallon.

“With oil nearing $50 per barrel, there’s a very good possibility that by mid-fall, gasoline prices could fall under $2 per gallon in a growing number of states,” DeHaan said in a news release.

Global crude oil prices continued to fall Monday on higher U.S. output, down 35 cents to $56.75 for a barrel of the benchmark Brent crude.

Gasoline prices generally follow fluctuations in crude oil prices.

Maine’s average gas price for the past week fell below the national average of $2.76 per gallon. The Maine price of $2.78 per gallon was down about 93 cents from one year ago and 5 cents lower than one month earlier.

Diesel prices in Maine also dropped during the past week, down about seven cents in the Bangor area, according to AAA.

Reuters contributed to this report.

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