Despite the national average rising by four cents last week, Northeast gasoline prices decreased slightly as millions of Americans prepared for their upcoming holiday celebrations and road trips.

 Oil prices have been holding relatively steady in the mid-$70 a barrel range on mixed news. Ongoing tensions in the vital Red Sea shipping corridor caused by militants attacking cargo ships has created upward pressure on oil prices. At the same time, typical year-end profit taking from commodity traders has tempered the increases. Additionally, the coastal African nation of Angola announced it would be leaving OPEC—a sign of the Saudi-led cartel’s waning influence on global oil markets.  

Rhode Island’s average gas price is down three cents from last week, averaging $3.11 per gallon. Tuesday’s price was 22 cents lower than a month ago, and 15 cents lower than Dec. 26, 2022. Rhode Island’s average gas price a penny lower than the national average.

“Last week, the national average price for a gallon of gasoline increased for the first time since September—an indication prices are starting to bump against seasonal lows,” said Mark Schieldrop, Senior Spokesperson for AAA Northeast. “Daily gas prices—both locally and nationwide—could move back and forth for the next month or so. Looking back at pre-pandemic 2019, the national average did not make a firm turn to moving higher daily until Valentine’s Day, February 14.” 

AAA Northeast’s Dec. 26 survey of fuel prices found the current national average to be four cents higher than last week ,  averaging $3.12 a gallon. Tuesday’s national average price is 13 cents lower than a month ago and is two cents higher than this day last year .