Experts Warn Consumers In MA Not To Expect 'Lower Gas Prices' Yet

Over the weekend, we learned that an agreement had been reached to end the war in Iran and to open the Strait of Hormuz, a vital waterway between the Persian Gulf and the Gulf of Oman through which roughly 20% of the world's traded crude oil and liquefied natural gas pass daily.

Everyone, including me, has been waiting patiently for gas prices to go down, but unfortunately, experts warn it may be months before energy companies can fully resume operations to meet global demand. Meaning how the impact won’t be immediate on what the average consumer in Massachusetts pays at the gas pump.

Ships Stranded In The Persian Gulf

According to WWLP, ships loaded with crude oil haven't been able to safely travel through the waterway for the past three months. That waterway is where a fifth of the world’s oil and gasoline supplies typically traveled before the war began.

“It’s going to take time for people to feel comfortable and for insurance to be in place … particularly to get people on the ground to restart some of these assets,” - Daniel Evans, global head of fuels and refining research at S&P Global Energy

What Is The Average Price Per Gallon In Berkshire County?

As of writing this article, according to AAA, the average price per gallon of gas in Berkshire County is $4.27, and we expect that number to slowly decrease as gas has dipped for three weeks straight. Other counties' averages are $4.12 (Franklin), $4.10 (Hampshire), and $3.99 (Hampden).

Evans also stated that crude oil ships that have been stranded will have to exit the strait, and then new tankers will have to come in to be loaded. Which can take months as they travel from country to country.

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LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

Gallery Credit: Sophia Crisafulli

Here Are The Best Gas Apps To Help You Spend Less At The Pump

Everyone likes saving a few bucks at the pump. Here are the apps that can help do just that with all these high rising gas prices, that are probably out there killing not only you but your wallet.