Editor’s Note: This is an excerpt from WBUR’s daily morning newsletter, WBUR Today. If you like what you read and want it in your inbox, sign up here.
Our long rainless streak looks poised to come to an end, just shy of a full month. So pull a light rain jacket over your Patriots jersey tonight, and let’s get to the news:
Trending at the pump: Have you noticed that the price of gas prices has steeply fallen? According to AAA, the average price of gas in Massachusetts is now $3.17 a gallon. That’s about 60 cents lower than it was a year ago and almost a quarter less than a month ago. WBUR’s John Bender reports that experts don’t expect the trend to stop anytime soon. (We’ll pause in case you want to knock on wood.)
- What to expect: AAA Northeast spokesman Mark Schieldrop predicts the average price of gas in Massachusetts to be “well below” $3-per-gallon before the end of October. And based on seasonal trends, he said the decline might not bottom out for a few more months. “We should see prices at multi-year lows by the depths of the winter here in the Northeast,” Schieldrop said. (He guessed the average will approach, but not go below, $2.50.)
- Zoom in: You probably can already find gas stations in some parts of Massachusetts selling gas below the $3-a-gallon mark. The average in parts of western and southeastern Massachusetts is already near that threshold. Meanwhile, the average in Suffolk County remains at $3.38 a gallon.
- Zoom out: The falling prices are part of a national trend. That’s because U.S. oil refiners have been producing and exporting at record levels in recent years. Meanwhile, global demand — and to a lesser degree, domestic demand — has fallen, leading to a “glut” of inventory. (There’s a complex combination of factors driving those dynamics, from China’s economy to changing travel patterns to EVs to the profitability of diesel and jet fuel.) We’re also approaching the switchover to winter blend fuel, which Schieldrop says “usually leads to a 7%- to 8%-per-gallon price drop.”
- Could something get in the way of this trend? There are always wildcard factors, like international wars or hurricanes that could cause gas prices to jump up. Schieldrop also noted that there’s murmurs the big refiners might soon dial back production. “At some point, the cost to produce and transport all that fuel reaches below a certain level that it’s no longer profitable,” he said. “And as we know, oil and gas companies want to remain profitable.”
Down in D.C.: A U.S. Senate committee is slated to vote today on contempt charges against Steward Health Care CEO Ralph de la Torre, after he ignored a hearing subpoena last week. “I hope that we will be working together, every Senator, Democrat and Republican, to hold Dr. de la Torre accountable for his financial mismanagement and his greed,” Sen. Bernie Sanders, the chair of the Senate Committee on Health, Education, Labor and Pensions, said at the hearing last week.
- The vote is a first step in a potentially multi-part process. If approved, the contempt motion will go to the full Senate for consideration. And if the full Senate approves the motion, the charges will be handed off to prosecutors and courts.
On track: We have an update of the MBTA’s South Coast Rail project, and it’s not another delay. The T announced last night that they plan to run more trips than initially expected: a total of 32 weekday trips between South Station and East Taunton (about half will continue to Fall River and the other half will go to New Bedford). That’s up from the originally planned 26. There will also be weekend service, with a total of 26 trips across Saturday and Sunday.
- The T also decided that South Coast Rail trips will be priced at $12.25 for a one-way trip. Service is slated to start next May.
It’s a deal: Boston University says it’s reached a three-year contract with its resident assistants following their weeklong strike earlier this month. According to BU, the deal includes a $1,700-a-semester stipend and expanded free meal benefits for its 300 unionized RAs.
- The contract needs to be ratified by the union, which is expected to vote next week. (BU holds the broadcast license for WBUR.)
FYI: Crane Beach in Ipswich will remain closed to swimming through this coming Monday, due to shark sightings. The decision comes after additional shark sightings were reported in the area on Wednesday. (This weekend doesn’t really look like swimming weather, anyway.)
P.S.— Our 2024 fall arts guides wrap up today with a roundup of 13 worth-seeing art exhibits coming to Massachusetts this season. It includes new exhibits at the big institutions you know and love, like the MFA and ICA, as well as more electric attractions like politically charged needlework and art conjuring the spirit world. You can check out all seven of this year’s fall art guides right here.
This article was originally published on WBUR.org.
