New Hampshire Gas Prices Probably Won't Go Much Lower, Analysts Say

Feb 29, 2016

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New Hampshire gas prices have continued to drop in recent weeks, though they may start to slowly rise over the coming weeks. 

The latest survey of gas prices from shows the average price in the state at $1.68 a gallon.

That's down about a penny a gallon from prices a week ago and almost 14 cents a gallon from last month's average.

Energy analysts say refineries are starting to making their annual transition to more expensive summer blends.

But GasBuddy Senior Petroleum Analyst Greg Laskoski says the increases should be gradual and relatively small compared to prices a few years ago, something between 40 and 70 cents a gallon in all.

"You're looking at $2.40 as the peak at which those prices would hit," Laskoski says. "Most markets aren't even going to see anything close to that. I think most markets are probably going to be looking at something closer to $2.20 or $2.25."

Laskoski says New Hampshire gas prices have stayed relatively low even as the West Coast and the Great Lakes region have seen the cost of gas climb.

Pat Moody of AAA Northern New England adds that other factors may curb the price increases even during the spring transition.

"We have inventories right now that are nearing record highs in terms of storage for crude oil," Moody says. "The refineries are going to start slowing down production to switch over to summer blend fuel. When that happens, we may see a little bit of difference in price, but it shouldn't be as dramatic as what we've seen sometimes in the past."