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Business and Economy

Analyst: Gasoline Prices in Maine at 12-year Low

PORTLAND, Maine - Gasoline prices in Maine and around the nation are at a 12-year low. Gasbuddy.com, which tracks prices daily, says gas prices since summer began have averaged about $2.24 a gallon - the lowest since 2004.

That holds true for Maine, says Gas Buddy analyst Gregg Laskoski, and Mainers can expect relatively low prices to continue into fall. 

"Because consumer demand diminishes sharply, and at the same time we see the lower-cost gasoline, the winter blend typically comes in to the market by Sept. 15, so all of those things are what pushes the prices at the pump much lower, not only for late September, but really for the remainder of the calendar year."

In the cold temperature months, federal regulators allow gasoline to contain fewer additives needed in summer to reduce volatility and pollution - additives that raise the cost of producing gasoline.