By CBSBoston.com Staff

BOSTON (CBS) — Gas prices are going down in Massachusetts. The average price per gallon in the state dropped 2 cents from last week to $3.40, AAA said.

The state average is still 5 cents higher than the national average of $3.35 per gallon.

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“Pump prices fell as fears of a possible COVID-19 global economic slowdown pushed oil prices into the mid $60s per barrel—a price not seen since August,” AAA Northeast said in a statement. “Also helping to ease upward pricing pressure was the decision by OPEC and its oil-producing allies not to cut production.”

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The price of gas in Massachusetts is the same as it was a month ago, and $1.30 higher than at this time last year.

“Consumers may be catching a break at the pump right now, but it’s not for a very good reason,” AAA Northeast’s Mary Maguire said in a statement. “A potential COVID-19 induced economic slowdown hurts everyone and could prompt OPEC to slash production if oil prices drop too low.”

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CBSBoston.com Staff