Gas prices down 2 cents in RI, a nickel in MA

Gas prices down 2 cents in RI, a nickel in MA

Hurricanes Harvey and Irma are nearly behind us as far as gas prices are concerned.

The average price for a gallon of gas in the US fell to $2.49 this week, the fourth consecutive weekly decline as demand softens with the cooler autumn weather. Michigan's current daily statewide average is about $2.40 per gallon, about 10 cents less than last week's average and about 5 cents more than this same time previous year.

But the month-long retreat has erased only a little more than half of the price runup triggered by Hurricane Harvey.

The Department of Energy says three gas refineries on the Gulf Coast are still off-line.

Remember early July, when the statewide average was $2.15 and gas could easily be found - even in South Florida - under $2.10? In Vermont, the price was $2.58 per gallon, down 3.9 cents from the previous week. The state average has dropped for 26 straight days and is now 24 cent cheaper than it was when the decline began.

That price is 15 cents higher than the current national average and 42 cents higher than the Rhode Island price a year ago.

As the market continues to correct itself following back-to-back major storms, and with Hurricane Nate's impact not expected to affect local prices, analysts are predicting more declines this week.

"Based upon what I'm seeing, I would think it could drop another 20 or 30 cents per gallon, but it may take a few more weeks for that to happen", he said. The Tampa market posted the least expensive average price per gallon at $2.44. People in Iowa are right in the middle paying about $2.41 per gallon. Gas prices remained high and were exasperated when Hurricane Irma tore through Florida and several mid-Atlantic states in September. Kentucky's average is about $2.30 a gallon.

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