December 17, 2017
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Maine gas prices hold steady at $2.10

By Darren Fishell, BDN Staff
BDN file | BDN
BDN file | BDN
A Bangor resident fills up at Swett's Tire and Auto in Bangor in this March 9, 2010, file photo. The average price of regular gasoline in Maine remained basically flat last week at an average of $2.10 per gallon, as the national average fell.

PORTLAND, Maine — The average price of regular gasoline in Maine remained basically flat last week at an average of $2.10 per gallon, as the national average fell.

The price tracking website GasBuddy reported that the average price of a gallon of regular gas in Maine was 0.7 cents higher than one week earlier, while the national average dipped 1.2 cents, to $2.04 per gallon.

Gregg Laskoski, a senior analyst for GasBuddy, said in a news release that the drop came from high refinery output and stored inventories that smoothed the transition to a lower-emitting and more expensive summer blend of gasoline.

“The healthy inventory in advance of demand has helped flatten prices, but we don’t expect that to last when summer travel kicks into high gear,” Laskoski said.

The average per-gallon gasoline price in Maine, as of Sunday, was 30 cents lower than one year ago and about 24 cents higher than one month ago. Maine’s $2.10 per-gallon average was higher than New Hampshire’s, $2.01, and Vermont’s, $2.09.

GasBuddy and the U.S. Energy Information Administration projected prices will remain lower on average this year than in 2015, despite the expected rise in crude oil prices, political and tax uncertainties and the removal in December of a 40-year ban on exporting crude oil from the United States.

In March, the Energy Information Administration significantly dropped its forecast of monthly gasoline prices, putting its expectation for May at $1.99 per gallon, down from an original forecast of $2.49 per gallon in January.

 


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