"It's a tough situation for folks who already are cutting it close or not able to make ends meet that easily or at all. Now they're seeing those dollars spin on the gas pump at a faster rate every time they have to fill up. It's definitely a gut punch for folks that are trying to get ahead."
"With New England cut off from any major gas pipeline and without refineries of its own, the region may soon feel the hit harder than most. We're vulnerable to global market prices for oil and other refined products, and most of the gas in the Northeast is imported, with some coming from other parts of the country."
"The region's service stations receive gas from tractor-trailers, all of which burn diesel. With diesel prices ticking toward $5 a gallon, delivery costs will also go up, which will translate to the pump, and those higher fuel costs will drive up the price of other goods, including food."
Massachusetts gas prices have risen approximately 50 cents per gallon since geopolitical conflict disrupted global oil markets, reaching an average of $3.40. Diesel prices increased from $4.04 to $4.83 per gallon, while heating oil climbed 20 cents per gallon. New England faces heightened exposure to price volatility because the region lacks major gas pipelines and refineries, relying entirely on imported fuel delivered by diesel-burning trucks. Rising diesel costs increase transportation expenses, which translate directly to pump prices and broader consumer goods. Lower-income residents face particular hardship as fuel costs consume larger portions of already-stretched budgets.
Read at Boston.com
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