Gasoline prices starting to fall

On Saturday, customers waited to buy gasoline at a filling station in Metuchen, N.J.

Mel Evans/Associated Press/File

On Saturday, customers waited to buy gasoline at a filling station in Metuchen, N.J.

NEW YORK — A week ­after Superstorm Sandy, the price of gas has increased 10 cents per gallon or more in the New York City area and in hard-hit parts of New Jersey. Images of long lines of cars and interviews with frustrated drivers have become staples in news coverage of the storm’s aftermath.

But across the United State the price of gasoline is falling — fast. The average fell 7 cents this past week and has declined nearly 9 percent in a month to $3.47 per gallon. The national average should be only slightly higher on Election Day than a year ago. That’s due to a dramatic drop in the price of wholesale gasoline and low demand from cautious consumers.


The average price for gas in Massachusetts was $3.659 a gallon in the latest weekly AAA survey, down 1 cent from the previous week’s average, AAA Southern New England said Monday.

Prices should fall further in the coming weeks, said Tom Kloza, chief oil analyst at the Oil Price Information Service.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

Kloza predicts that within a week, many commuters across the country will be paying less to fill up than at this point last year.

The national average is currently about 6 cents higher than a year ago.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of