AAA: Gas prices hold steady, expected to drop

AAA: Gas prices hold steady, expected to drop

The Dearborn-based auto club says late Sunday the average price for self-serve regular unleaded gasoline was about $2.63 per gallon.

AAA Michigan surveys daily fuel prices at 2,800 gas stations across the state.

Gas in Rhode Island is 7 percent higher than at this time past year when prices were averaging $2.35 per gallon, a difference of 18 cents. However, it should be noted that the liquid fuel tax was only increased by a total of 4 cents a gallon.

Including the change in gas prices in Louisiana during the past week, prices yesterday were 10.4 cents per gallon higher than the same day one year ago and are 1.6 cents per gallon higher than a month ago.

The first week of the new year is historically strong for oil prices, AAA said.

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Demand for gas on the other hand, has dropped off significantly according the to Energy Information Administration leading to a larger supply of gas available.

Gas prices held steady during the first week of 2018 in Southwest Florida, and analysts say drivers can expect to see a seasonal slide in what they pay at the pump.

Gas prices were up across the Northeast, AAA said. The last increase was on January 1, 2018, to $3.88 per gallon.

Prices normally rise in the spring as demand grows and supplies tighten.

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