Gas Prices are on the Rise in Maine - Here's Why - WAGM

PRESQUE ISLE, Maine (WAGM) - Gas prices have topped $3.00 per gallon here in Aroostook County.

Pat Moody of AAA Northern New England says, there are a few factors that play into the increase.

“The economy and the fact that folks are getting vaccinated, travel restrictions are starting to relax a little bit,” Moody said. “That’s putting more demand out there and gas prices is a factor of supply and demand. That demand is drawing down the supply.”

Moody adds after winter storms wiped through the state of Texas, the impact on refineries also had a role in the increase.

According to AAA, the average price in Maine is just over $2.80 and consumers are leaving consumers in a pinch.

“I pretty much work to fil the tank. That’s about it. It’s just ridiculously priced, I don’t even know what to say about it.”

“In pandemic times especially when there’s so many people that are really struggling the gas prices going up is going to be detrimental to some families,” Mari-Jo Hedman said.

If you are looking for the prices to drop substantially you might have to wait awhile

“We’re probably seeing a natural adjustment in the market,” Charlie Summers, CEO of the Maine Energy Marketers Association said. “Again, over the last year when we were kind of on lockdowns and people were staying at home, they were not traveling, that drove the demand down and that drove the cost per barrel down. Now the cost per barrel is right at about 60 dollars per barrel again which seems to be historically about where it rests. I wouldn’t anticipate any great fluctuations or great swings in the price. But as you get into the summer sometimes, you will see it tick up a little bit, then tick back.”

The summer travel season is just around the corner and motorists know that a road trip might cost a little more this year.

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Gas Prices are on the Rise in Maine - Here's Why - WAGM
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