Domestic demand for gasoline last week fell a sizable 365,000 barrels a day to 8.8 million barrels a day, according to the Energy Information Administration (EIA). That’s a hefty week-to-week drop at a time of year that typically sees demand ride an incline through spring. Total product demand — which includes gasoline, propane and other oil-derived products — fell by 2.2 million barrels a day, the EIA reported.
Market prices for oil and gasoline did end last week slightly higher, after several moves by the Trump administration to increase pressure on Venezuela and Iranian oil production, which could reduce global availability of crude oil. The Treasury Department on Thursday issued penalties against a Chinese refinery for allegedly buying Iranian oil that is under U.S. sanctions. That action came on the heels of the Trump administration earlier this month revoking Chevron’s license to pump oil in Venezuela.
In the Northeast, gasoline inventories tightened last week on reduced output from Phillips 66’s refinery in Bayway, New Jersey, which is amid seasonal maintenance to switch to producing summer blended fuel. Stocks in the Northeast now sit at 62.9 million barrels, down 2.4 million barrels from last week but above last year’s figure of 60.9 million barrels.
“As gasoline prices remain relatively flat across the Northeast, the gap between pump prices this year and last year continues to widen,” said Jillian Young, director of public relations for AAA Northeast. “In some areas, prices are between 30 and 40 cents cheaper than this time last year.”
AAA Northeast’s March 24 survey of fuel prices found the current national average up a nickel from last week ($3.07), averaging $3.12 gallon. That national average price is 2 cents lower than a month ago ($3.14) and 41 cents lower than this day last year ($3.53).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Connecticut | $3.01 | $3 | $3.08 | $3.43 |
| Massachusetts | $2.95 | $2.95 | $3.03 | $3.30 |
| New York | $3.10 | $3.11 | $3.17 | $3.42 |
| Rhode Island | $2.92 | $2.91 | $3.02 | $3.29 |
*Prices as of March 24, 2025
As of March 24, Mississippi and Oklahoma had the lowest prices in the nation, at $2.66 and $2.69, respectively. California and Hawaii held the highest prices in the nation at $4.64 and $4.51, respectively.
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search for average gas prices on national, state and metro levels by regular, plus, premium and diesel.
