The average price for a gallon of regular gas in Maine fell 10 cents over the past week to $4.63 on Monday, which also is almost 40 cents less than one month ago, according to AAA New England.
That is good news for drivers in the state, although the prices are dropping slower than in neighboring states. In New Hampshire prices fell 14 cents per gallon to $4.41 and in Vermont, 8 cents per gallon to $4.54, over the past week.
Nationally, the average price per gallon for regular gas on Monday was $4.35, down 17 cents since last week for a faster decline than all three northern New England states with significant rural populations.
“Typically rural states like Maine experience slower retreats in gas prices because of less competition among gas stations,” Pat Moody, spokesperson for AAA Northern New England, said. “Larger populated states with more metropolitan areas typically see prices drop faster than rural regions.”
In Portland, prices fell 11 cents per gallon over the past week to $4.68, in Bangor they were down 12 cents to $4.65 and in Lewiston-Auburn they were down 8 cents to $4.75.
Supply and demand play a role in price fluctuations, Moody said, as do macroeconomic factors such as oil prices decreasing amid fears of a recession.
Drivers should check websites such as gasbuddy.com and mainegasprices.com, which can show lower prices in your area.