Gas prices fall for sixth consecutive week in Rhode Island

Gas prices fall for sixth consecutive week in Rhode Island

The national average was falling 27 days in a row until last week, when it rose a few cents.



The price in Palm Beach County averaged $2.60 per gallon, down 2 cents from a week earlier and 21 cents from a month ago.

“Obviously, the story about fuel prices last week was all about a massive spike in gasoline prices throughout the Midwest”, said Patrick DeHaan, GasBuddy senior petroleum analyst.

AAA Michigan says the average price of self-serve regular unleaded gasoline was about $3 per gallon on Sunday, down about 50 cents from the same point a year ago.

However, the steady decline in gas prices hit a snag late last week.

Prolonged slumping oil prices have now led some who follow energy prices to wonder if gas prices could soon drop below $2 per gallon. Harker Heights had two retailers – an H-E-B, 601 Indian Trail, and a Murphy USA, 2010 Heights Drive – crack second place with four other retailers around the state, selling gas for $2.08.

At $2.17 per gallon, South Carolina topped the list, while California was at the bottom with its $3.59 per gallon average.

That is 19 cents below the national average and 99 cents below the in-state price a year ago.

Oil prices are slipping amid concerns about lower economic growth in emerging markets, expectations of higher oil exports from Iran, as well as growth in global oil inventories, AAA said.

Domestic focus has shifted to the potential for a glut in gasoline because strong refinery runs and the potential for demand to drop as the summer-driving season ends, AAA said.

2015 August Daily Oil Prices

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