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January 14, 2016

Maine gas prices now lowest in six years

The price of gasoline in the state is continuing it’s downward trend, with the average price of regular gas reaching $2.05, its lowest in six years.

The $2.05 average is down 2 cents from last week.

While the state is still almost 10 cents higher than the $1.97 national average — a price-point that is also shared by our closest neighbors in New Hampshire — gasoline prices for Maine are down 10 cents compared to this time last year.

According to the Bangor Daily News, this downward trend is being attributed to low demand coupled with high production by oil producing countries in the Middle East.

“History has shown that 12 of the past 16 Januarys [sic] have yielded the worst demand for the year,” Jeff Pelton, a GasBuddy senior petroleum analyst said in a news release.

 

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