December 17, 2017
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Gas prices in Maine dip closer to $2 a gallon

By Darren Fishell, BDN Staff
Gabor Degre | BDN | BDN
Gabor Degre | BDN | BDN
Gas prices as seen in Bangor in this December 2015 BDN file photo. Gas prices on Sunday continue to fall closer to the $2 mark.

PORTLAND, Maine — Maine’s average price for a gallon of regular gasoline dipped again in the past week, maintaining a trend that has brought the price of gas in the state to a six-year low.

The average price of a regular gallon of gasoline dipped to $2.05 statewide Sunday, down about 2 cents from one week ago and down 10 cents from one year ago.

The national average also dropped 2 cents, to $1.97, according to surveys by the price tracking website GasBuddy.

Maine’s average was 10 cents higher than New Hampshire’s, at $1.95 per gallon, and lower than Vermont’s, at $2.08 per gallon.

The prices come as low demand has paired with continued high production by oil producing countries in the Middle East, according to Jeff Pelton, a GasBuddy senior petroleum analyst.

“History has shown that 12 of the past 16 Januarys [sic] have yielded the worst demand for the year,” Pelton said in a news release.

The average price in Maine approached an average of $2 last winter, but started to rise again in late January. The current average is the lowest in Maine since early 2009, according to GasBuddy data.

Around the country, GasBuddy and AAA have projected that prices below $2 per gallon will be more common this year, with some southern and midwestern states already reporting averages below that per-gallon amount.

GasBuddy and the U.S. Energy Information Administration have forecast that 2016 will bring a lower annual average price for gasoline, down to about $2.36 for the year.

 


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