Westwood, MA, December 5, 2022 — The average gas price in Massachusetts is down 10 cents from last week ($3.76), averaging $3.66 per gallon. Today’s price is 16 cents lower than a month ago ($3.82), and 25 cents higher than December 5, 2021 ($3.41). Massachusetts’ average gas price is 26 cents higher than the national average.

The recent steep plunge in domestic gas prices may be affected by the results of Sunday's meeting of OPEC+, a group of 23 oil-producing nations, including Saudi Arabia and Russia. Domestic gasoline prices have dropped 26 cents nationally in the past two weeks.

But OPEC+ decided to maintain output cuts of 2 million barrels per day, about 2% of world demand. The purpose of the move is to boost the global price of oil, which has fallen recently on fears of demand weakness, specifically in China. Regardless, the national average pump price for a gallon of gas dropped 14 cents in the past week to $3.40.

“Gas prices are dropping sharply and are only a nickel more per gallon nationally than a year ago,” said Mary Maguire, AAA Northeast Vice President of Public and Government Affairs. "But with oil being the main ingredient in gasoline, OPEC+'s move could slow this decline. However, the gas price will likely soon be lower than it was a year ago."

AAA Northeast’s December 5 survey of fuel prices found the current national average to be 14 cents lower than last week ($3.54), averaging $3.40 a gallon. Today’s national average price is 39 cents lower than a month ago ($3.79), and 5 cents higher than this day last year ($3.35).