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TH: Gas prices drop for second week
 
Gasoline prices in Massachusetts are down for the second consecutive week, and have dropped 7 cents over the past two weeks.

AAA Southern New England reported Tuesday that self-serve regular gasoline fell 2 cents from last week to average $2.61 per gallon. That's 7 cents below the national average and mirrors the price at the same time last year.

Last week, AAA found prices dipped a nickel - the biggest drop since the end of May.

MassachusettsGasPrices.com said regular gasoline is averaging $2.59 a gallon, down 1.8 cents from last week.

Gasoline prices usually begin falling after Labor Day - the end of the summer driving season, but they began falling the week before. And they are predicted to further decline by a dime to a quarter over the next few weeks, analysts say. Oil and gasoline prices have been dropping as the U.S. and global economic recoveries have slowed.

Supplies of oil and gasoline remain above five-year averages as demand has been mediocre for most of the summer. Also, refineries have been operating near capacity.

The range in prices in Massachusetts in the latest AAA survey for regular is 44 cents, from a low of $2.45 to a high of $2.89.

Midgrade is averaging $2.76, from $2.55 to $3.09. Premium is averaging $2.87, from $2.65 to $3.19. Diesel is averaging $2.93.
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