Massachusetts Gas Prices Jump
Gas prices in Massachusetts spiked 40 cents in a week due to the conflict involving Iran, impacting local consumers.
The average price for regular gas in Massachusetts is now $3.41 per gallon. Just a week ago, the average was $2.98. Diesel prices have jumped even more dramatically, up to $4.83 from $4.04 last week. This increase in diesel costs can have a ripple effect, increasing transportation costs and potentially impacting the broader economy. The conflict's disruption of oil flow through the Strait of Hormuz is a major factor. Approximately 20% of the world's oil supply passes through this key waterway. Experts suggest prices may continue to climb until the Strait of Hormuz is reopened. The last time oil was at $100 a barrel was in 2022, and prices at the pump were significantly higher then.
