Gas prices fall 2 cents, to $2.59 a gallon in Rhode Island

by Noah Mcgee February 21, 2018, 3:30
Gas prices fall 2 cents, to $2.59 a gallon in Rhode Island

For the second straight week, the national average price of gasoline has declined, falling 5.4 cents to $2.51 per gallon Monday while diesel slid 3 cents to $2.95 on average according to GasBuddy data on 135,000 gas stations nationwide. A week ago, the averages were $2.34 in Lauderdale County and $2.31 in Colbert County. That's five cents less than this day last week and 27 cents more than the price per gallon at this same time a year ago.

Phoenix- $2.34/g, down 1.2 cents per gallon from last week's $2.35/g.

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Including the change in gas prices in San Bernardino during the past week, prices on Sunday were 39.5 cents per gallon higher than the same day one year ago and are 16.0 cents per gallon higher than a month ago. "AAA expects gas prices will shoot up 20 to 30 cents between March and May as refineries conduct seasonal maintenance and switch to summer-blend gasoline".

Miller says gas prices in Pennsylvania have not been this high since 2014, when the peak price was $3.81. AAA advises motorists to shop around for the best prices in their area, and to make sure they and their passengers buckle up - every time. "Refinery maintenance season is fast approaching". "Sluggish demand coupled with growing crude stocks have paused steadily rising oil prices". Inventory levels now total 422.1 million bbl. In fact, last week's EIA petroleum report revealed that USA oil production grew 332,000 b/d, putting total crude output at 10.271 million b/d. Local prices remain at a four-year high for this time of year. That's still about 19 cents more than this time a year ago. Oil inventory is down more than 18 percent, while gasoline is down 4 percent, signifying a large increase in US exports.

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