Gas prices rise 2 cents a gallon to $2.53 in Rhode Island

Gas prices rise 2 cents a gallon to $2.53 in Rhode Island

The average price for a gallon of gas to wrap the weekend; $2.87.

"As unseasonable cold finally breaks across the country, what may not break as quickly as the unseasonably high gas prices", said Patrick DeHaan, head of petroleum analysis for GasBuddy. Both stations are now charging $4.02 for a gallon of regular gasoline, $4.37 for a gallon of premium or supreme and $4.43 a gallon for diesel. With the holiday season behind us, motorists can expect gas prices to trend cheaper this month as demand decreases. It is not clear whether or not these price hikes have anything to do with the increase to the liquid fuel tax. The Florida average of $2.44 was unchanged.

Gas in Rhode Island is 7 percent higher than at this time a year ago when prices were averaging $2.35 per gallon, a difference of 18 cents. West Texas Intermediate crude settled at a four-year high above $62 a barrel last week as global supply levels tightened. That price point is then lowered later in the year as a result of low demand.

In Florida, the most expensive average gas price was $2.57 in the West Palm Beach-Boca Raton area. "Of course, this forecast could change dramatically if there are unexpected shifts in fuel supply and/or the stock market". The last increase was on January 1, 2018, to $3.88 per gallon. Spring is one of two times a year that refineries go offline to conduct maintenance on their equipment and switch from winter to summer-blend gasoline, which is more expensive to produce.

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