NEWS

Gas prices expected to continue dropping

Posted 9/10/20

Rhode Island's average gas price is down a penny from last week averaging $2.17 per gallon. Today's price is 3 cents higher than a month ago and 37 cents cheaper than September 8, 2019. Rhode Island's average gas price is 4 cents lower than the national

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NEWS

Gas prices expected to continue dropping

Posted

Rhode Island’s average gas price is down a penny from last week averaging $2.17 per gallon. Today’s price is 3 cents higher than a month ago and 37 cents cheaper than September 8, 2019. Rhode Island’s average gas price is 4 cents lower than the national average.

Motorists saw plenty of savings at the pump from Memorial Day through Labor Day. The national gas price average during the unofficial start and stop to summer was $2.15 - the cheapest since 2004. Demand was decimated this summer, which ultimately meant increased supply and cheap gas prices. That trend continues. In its latest report, the Energy Information Administration (EIA) reported that demand dropped from 9.16 million barrels per day to 8.79 million.

 “Summer may be fading into the rearview mirror, but less expensive gas prices are not,” said Lloyd Albert, AAA Northeast Senior Vice President of Public and Government Affairs. “Moving into fall we traditionally see a drop in demand and further savings at the pump. This year that means pump prices could possibly push even lower than we’ve already seen in 2020.”

gas, AAA

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