As millions of Americans took to the road over the Thanksgiving holiday, gas prices barely budged here in the Northeast, but still managed to eke out declines for a tenth straight week. Meanwhile, …
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As millions of Americans took to the road over the Thanksgiving holiday, gas prices barely budged here in the Northeast, but still managed to eke out declines for a tenth straight week. Meanwhile, the average price for a gallon of gas is below $3 a gallon in 14 states – and that number is climbing.
Petroleum markets took a breather over the holiday after the unexpected postponement of Wednesday’s OPEC+ meeting to Nov. 30 when a decision on extending the cartel’s production cuts is expected. Additionally, the Energy Information Administration reported lower gasoline demand figures for the week preceding the holiday.
Rhode Island’s average gas price is down a penny from last week, , averaging $3.33 per gallon. Monday’s price was 18 cents lower than a month ago and 37 cents lower than Nov. 27, 2022. Rhode Island’s average gas price is eight cents higher than the national average.
“Even with near-record Thanksgiving travel and the potential for further output cuts from oil producers in the Middle East and elsewhere, domestic oil and gasoline inventories surged last week, sending prices lower,” said AAA Northeast Senior Spokesperson Mark Schieldrop. “And that trend is likely to continue.”
AAA Northeast’s Nov. 27 survey of fuel prices found the current national average to be five cents lower than last week, averaging $3.25 a gallon. Monday’s national average price was 26 cents lower than a month ago and is 30 cents lower than the same day last year..
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