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Business and Economy

Maine Gas Prices Continue to Fall

PORTLAND, Maine - It might be the height of the summer driving season, but gas prices in Maine and across the nation continue to fall. 

The statewide average price of regular gas in Maine is down almost 4 cents a gallon from last week, to $2.17 a gallon.  That's 16 cents less than a month ago and 49 cents less than this time last year. 

Gregg Laskoski, of the price-tracking website GasBuddy.com,  says there continues to be a global supply and demand imbalance.

"The nation's gasoline inventory is about 12 percent higher than where it was a year ago," he says, "and demand has not kept pace.  Demand has been up compared to last year but not significantly so."

Laskoski says retail prices are expected to continue an incremental drop through the month of August with more pronounced drops in September as less expensive winter blend gasoline comes back into the market.