PORTLAND, Maine — The average price of a gallon of regular gasoline dropped about 10 cents in Maine during the past week, to $2.39 on Sunday, as the national average fell at a faster rate.
The gas price tracking site GasBuddy recorded a drop in the national average of 12.8 cents in the past week, the largest single-week drop of the year, according to the site’s senior petroleum analyst Patrick DeHaan. He projected further declines.
“Since June 30, oil prices have fallen 23 percent while retail gasoline prices have fallen about half that amount, so gasoline prices will move lower again this week,” DeHaan said in a news release.
The cost of crude oil is the major component in the pump price of gasoline, but changes in the pump price of gasoline typically lag changes in crude oil prices.
The latest price report for Maine pegged the average price of a gallon or regular gasoline at about $1.10 lower than one year ago and about 27 cents lower than one month ago.
The site on Monday morning reported the cheapest gallons in the state at the Sunoco, Citgo and Irving stations in Orono — at $2.13 to $2.15 per gallon — and the highest price at The Penny Store in New Gloucester, at $2.94 per gallon.