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Gas Prices Dip as National Average Falls to $4.06, Rhode Island at $4.02
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Newport Buzz
The decline comes as crude oil prices remain in the mid-$70 per barrel range amid optimism that shipping through the Strait of Hormuz will continue without major disruptions.
Rhode Island drivers are paying an average of $4.02 per gallon, slightly below the national average.
AAA said gasoline demand slipped only slightly last week, from 9.04 million barrels per day to 9.03 million, while domestic gasoline supplies fell from 211.3 million barrels to 209.7 million barrels.
On Wednesday, U.S. benchmark West Texas Intermediate crude oil settled at $75.22 per barrel, down 55 cents.
The national average stood at $4.06 Thursday, compared with $4.10 a week ago, $3.80 a month ago and $3.17 one year ago.