While demand data for the holiday weekend is not yet available, prices remained flat across much of the Northeast thanks to lackluster demand in the weeks leading up to the holiday and growing inventories as supply continues to outpace domestic demand.
The build in gasoline inventories came last week even as domestic refiners dialed back production from 9.7 million to 9.5 million barrels a day, according to the Energy Information Administration. Total supplies of gasoline increased by 800,000 barrels. On the other side of the equation, demand for gasoline during the week ending May 16 — the latest available data — fell to 8.64 million barrels a day, down from 8.79 million barrels a day a week earlier.
Another factor keeping a lid on pump prices is the cost of oil, which continues to hover around $60 a barrel and is unlikely to break out of the current range after OPEC+ indicated last week that its member nations will likely approve yet another production increase in July. That makes three consecutive months that the group would approve increases of 411,000 barrels a day, increasing the odds of global supply outpacing production through the end of 2025.
“It might seem highly unusual for gas prices to stay relatively flat in the early days of the summer driving season, but ultimately, supply and demand are the major driving forces behind pump prices,” said Jillian Young, director of public relations for AAA Northeast. “Prices could start moving if demand picks up as the summer rolls along, but it will take several consecutive weeks of strong demand before the current dynamic changes.”
AAA Northeast’s May 27 survey of fuel prices found the current national average unchanged from last week ($3.17), averaging $3.17 per gallon. The May 27 national average price is 3 cents higher than a month ago ($3.14) and 42 cents lower than this day last year ($3.59).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Connecticut | $3.11 | $3.11 | $3.06 | $3.66 |
| Massachusetts | $3 | $3 | $2.96 | $3.53 |
| New Jersey | $3.05 | $3.02 | $2.96 | $3.50 |
| New York | $3.12 | $3.13 | $3.09 | $3.67 |
| Rhode Island | $3 | $3 | $2.94 | $3.53 |
*Prices as of May 27, 2025
As of May 27, Mississippi and Louisiana had the lowest prices in the nation, at $2.64 and $2.70, respectively. California and Hawaii held the highest prices in the nation this week at $4.84 and $4.47, 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.
