Northeast gasoline prices continue to decline slowly and steadily as weak demand and lower oil costs take hold of petroleum markets.  

Oil prices fell for the second straight week last week as market jitters about the potential for a broader war in the Middle East have eased somewhat. Meanwhile, domestic oil and gas inventories climbed on softer demand, which remains nearly 500,000 barrels per day below the average for this time of year. 

Rhode Island’s average gas price is down six cents from last week, averaging $3.44 per gallon. Monday’s price was 22 cents lower than a month ago and 41 cents lower than Nov. 6, 2022. Rhode Island’s average gas price is three cents higher than the national average. 

“Although we still need to watch global events for the effects on oil prices, gas prices should continue to fall as long as oil costs are lower and demand remains lackluster,” said AAA Northeast Senior Spokesperson Mark Schieldrop. “With pump prices below $3 per gallon in six Southeastern states and counting, Northeast gas prices have room to drop once the switchover to winter blend is fully completed in our region.”