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May 31, 2016

Maine gas prices continue to rise, just short of national jump

The average price of a gallon of regular gasoline in the state rose by two cents over the past week.

During that same period, the average national price for a gallon of gas also jumped by three cents to $2.32, according to the popular price-tracking website GasBuddy.

The $2.37 statewide average reported on Tuesday morning is higher than both New Hampshire's average $2.28 price per gallon and Vermont's average price of $2.34 per gallon.

“Last year at this time many watched demand surge for petroleum products like gasoline as cheaper prices and a stronger economy saw record sales and miles traveled,” said Dan McTeague, a senior petroleum analyst at GasBuddy. “It’s likely that Canada too saw a similar rise albeit, no records seem to have been broken given taxes on fuel represent more than an average of 38% of the total fuel cost and a weaker currency vs the Greenback, making driving considerably more expensive.”

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