Monday, 15 October, 2018

AAA: Gas prices hold steady, expected to drop

Consumers should expect about a fiev cents per litre increase in gas prices in 2018 according to one petroleum analyst Consumers should expect about a fiev cents per litre increase in gas prices in 2018 according to one petroleum analyst
Judith Alexander | 09 January, 2018, 01:03

He does see a short-lived drop in prices in late January, but expects prices to rise again after Valentine's Day.

The average price of a gallon of regular-grade gasoline jumped 3 cents nationally over the past three weeks to $2.54.

The first week of the new year is historically strong for oil prices, AAA said.

"Retail prices could drop 5-15 cents in the next month and a half, while supply outpaces demand", said Mark Jenkins, spokesman for AAA. "Of course, this forecast could change dramatically if there are unexpected shifts in fuel supply and/or the stock market".

At the close of trading Friday, West Texas Intermediate crude oil settled at $61.44 per barrel, $1.02 higher than the previous week. The Florida average of $2.44 was unchanged. Then reduced winter demand pushes them lower for the next month or two.

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Gas in Rhode Island is 7 percent higher than at this time past year when prices were averaging $2.35 per gallon, a difference of 18 cents.

Gas prices are on the rise in Rhode Island and MA after Thursday's storm.

On Gasbuddy, a gas pricing app, the average price for a gallon of gas ranges from $2.23 to $2.29 with gas stations along Sugarloaf Parkway in Lawrenceville and Duluth having the lowest prices at $2.19 a gallon.

Weekly sports headlines from Jackson Progress Argus.

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