Currently, gasoline supplies in the Northeast stand at 67 million barrels – 500,000 more barrels than this time last year and notably above the 5-year average of 64.8 million barrels, according to the Energy Information Administration (EIA). Meanwhile, although domestic demand for gasoline last week did climb 220,000 barrels a day to 8.45 million barrels a day, the figure trails the comparable week in 2024 and landed well-below expectations.
With less than a month until the official switchover to summer blended gasoline, many market analysts are increasingly describing the inventory situation as oversupplied — especially since demand continues to languish and concerns about future economic headwinds are driving oil prices lower. The price for a barrel of crude ended last week down about 1% from the previous week, and down 3.8% from prices at the end of January. According to the EIA, coupled with a drop in exports and an uptick in imports last week, conditions are primed for cheaper pump prices.
“Gasoline prices are falling nationwide thanks to strong supplies and soft demand,” said Jillian Young, director of public relations for AAA Northeast. “So far this year, the traditional boost in demand to coincide with warming temperatures has not materialized.”
AAA Northeast’s March 3 survey of fuel prices found the current national average down 5 cents from last week ($3.14), averaging $3.09 gallon. Today’s national average price is the same as a month ago ($3.09) and 25 cents lower than this day last year ($3.34).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Connecticut | $3.06 | $3.08 | $3.08 | $3.27 |
| New Jersey | $3 | $3 | $3.06 | $3.15 |
| New York | $3.15 | $3.17 | $3.16 | $3.32 |
| Massachusetts | $3.01 | $3.03 | $3.02 | $3.18 |
| Rhode Island | $2.97 | $3.02 | $3 | $3.15 |
*Prices as of March 3, 2025
As of March 3, Texas and Mississippi had the lowest prices in the nation, both at $2.65. California and Hawaii held the highest prices in the nation at $4.78 and $4.54, 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.
