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Gasoline prices continue to fall as Americans prepare for holiday travel
20 December 2017, 01:18 | Rex Hubbard
Gas prices drop 4 cents to $2.52 a gallon in Rhode Island
But they've been declining for five straight weeks, as refineries produce more gasoline than motorists are consuming, leaving markets oversupplied, AAA spokesman Mark Jenkins said.
Meanwhile in South Florida, prices under $2.30 can be commonly found in competitive areas, including in Lake Worth along Lake Worth Road, Military Trail, Congress Avenue and 10th Avenue North, a check of the price-comparison website GasBuddy.com revealed.
AAA reported December 14 that drivers can expect gas prices to continue to fall heading into the holidays. The Florida average is falling at a rate of a penny per day.
The average in Jacksonville was $2.29 on Monday, according to AAA.
Today's price is 2 cents less than a week ago ($2.51) and 11 cents less than a month ago.
There is still a potential for further reductions in price.
Average pump prices dropped 2 cents in each state around the region.
Adding to the declining trend, US refineries switch late in the year to a winter blend of gasoline, which is less expensive to make because more steps are needed with the summer blend to prevent excessive evaporation.
In Rhode Island, gas prices are 12 percent higher this year than they were last year when the average price of gas was $2.24 per gallon. The cheapest was $2.30 in the Tampa-St.
Just in time for the holidays, gas prices in Florida have finally returned to pre-Hurricane Irma levels. "As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it'll be the gift that keeps on giving". The national average has gone up 18.4 cents since past year and is also down 11.9 cents since last month.
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US President Donald Trump tweeted that the incident shows "more than ever" why his infrastructure plan "must be approved quickly". Local officials had warned only weeks ago that the track still might not be safe enough to handle trains at higher speeds.