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AAA Michigan: Statewide average gas prices decline 6 cents

09 January 2018

The average price of a gallon of regular unleaded gas in Rhode Island grew to $2.53, while the average price of a gallon of regular unleaded in MA grew to $2.48.

The national average price for regular unleaded was $2.49, AAA said, down a half-cent over the week.

AAA Michigan says gas prices statewide have declined by about 6 cents per gallon in the past week.

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The Detroit-area's average decreased about 3 cents to $2.64 per gallon.

As of Monday afternoon, prices at Shell stations remained unchanged. West Texas Intermediate crude settled at a four-year high above $62 a barrel last week as global supply levels tightened. This is a 15 cent raise for regular gasoline which means gas prices have increased by a total of 17 cents in the last two weeks alone. That price point is then lowered later in the year as a result of low demand. Meanwhile, gasoline demand, measured by the Energy Information Administration, has dropped significantly, contributing to a strong build in fuel availability. "Of course, this forecast could change dramatically if there are unexpected shifts in fuel supply and/or the stock market".

Gas prices are on the rise in Rhode Island and MA after Thursday's storm.

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New Orleans- $2.19/g, up 1.4 cents per gallon from last week's $2.18/g.

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AAA Michigan: Statewide average gas prices decline 6 cents