Gas prices in Massachusetts reach new record highs Saturday

BOSTON — Gas prices in Massachusetts are now 70 percent higher than they were one year ago at this time.

The state set yet another new record for the price of regular unleaded on Saturday. It now sits at $5.04 a gallon for regular unleaded, according to AAA.

One year ago, regular gas was $2.95. One month ago, the price was 59 cents lower at $4.45

As of Saturday, the rest of the country was now averaging prices above $5.00 a gallon for the first time and it marked the 15th consecutive day of record highs across the country.

A barrel of crude oil topped $120 a barrel, according to CNN. The price was less than $100 last month.

The costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of 8.3%, the Labor Department said Friday.

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