Getting Answers: recent decrease in gas prices

In case you didn’t notice, gas prices have been going down in the past few weeks.
Published: Aug. 11, 2022 at 1:19 PM EDT
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SPRINGFIELD, MA (WGGB/WSHM) - In case you didn’t notice, gas prices have been going down in the past few weeks. On Thursday, the national average dipped below $4 a gallon for the first time since March, but drivers in western Massachusetts question whether prices will continue to decline.

“The gas prices are, I still think they are too high, way too high,” said William Galway.

“I’m really hoping it goes down. It’s fun to travel during the summer with the kids…but, ya know, it’s an investment in gas prices,” said Ana Rich of Chicopee.

Drivers in western Massachusetts may appreciate the decreasing prices at the pump as we near the end of summer, but they are skeptical.

Western Mass News is getting answers and spoke with AAA spokesperson Mark Schieldrop about why gas prices are going down.

“The main reason why prices are on the decline is that inventories have improved. We have produced more oil and gas, so less pressure on that and demand just really isn’t there. Americans are driving less. People really cut back when gas prices peaked in June and, as a result, it looks like they are not really going back to their old ways,” Schieldrop explained.

At one Stop and Shop gas station, prices dropped four cents overnight

“They haven’t gone down enough. When they went up so high, I could hardly afford anything to fill up my car or whatever. It was really hard…but now they are going down. I hope they keep going down,” Galway added.

We asked Schieldrop if he thought prices will continue to fall.

“For now, these prices are here to stay and they should be getting even lower…Gas prices have been going down in Massachusetts. It has been 58 straight days of gas price decreases and that’s great news at the pump,” Schieldrop said.

As for what would cause prices to rise again, Schieldrop added, “We are watching if a big hurricane forms and going to hit the United States that can cause prices to spike, which we have seen before in the past because of supply chain disruptions.”

He’s also keeping an eye on something else.

“The other thing is Russia. Russia has a lot of control over gas and gas flow in Europe. Europe is trying to stop using Russian products, but the fact of the matter is…Europe may switch to home heating oil and diesel for those needs instead of Russian natural gas. As a result, that would put pressure on prices here in the United States. Europe starts to use natural oil and as a result, that would put pressure on the United States,” Schieldrop explained.