standing gas pump

PROVIDENCE — Gas prices are continuing their downward trends heading into the New Year.

According to AAA Northeast, prices in Rhode Island fell for 11 straight weeks to end the year and now site at the lowest price at any point in 2018. Questions still remain as to how long the trend will continue, however.

“Heading into 2019, gasoline demand is expected to dwindle in January, an expected change following the busy holiday travel season,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast. “At the same time, OPEC will begin production cuts January 1 with hopes the shift in global supply will push oil prices higher. The impact of the cuts will not likely be known until later in the first quarter.”

In Rhode Island, prices are now four cents lower than they were a week ago at $2.46, but the average cost for a gallon of a gallon of regular remains 20 cents higher than the national average of $2.26.

A year ago at this time, the average price in Rhode Island was two cents higher at $2.48 per gallon.

The range in prices in the latest AAA survey for unleaded regular is 26 cents, from a low of $2.34 to a high of $2.60.

—Jason Vallee

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