AAA says 2017 July 4th holiday travel will break record

AAA says 2017 July 4th holiday travel will break record

Gas prices in Rhode Island have dropped by three cents this week.

According to AAA Kansas, with the record-breaking Independence Day holiday travel weekend underway, average gas prices in Kansas continue their steady decline this summer. "So that's quite a remarkable outcome, especially given that it costs more or refiners to make summer blend gasoline".

The average IL price for a gallon of regular unleaded gasoline is $2.33. That compared with $2.364 a month ago, and the current price is about 8 cents cheaper than this time in 2016.

Market analysts agree that slumping global oil prices, which are the biggest factor in American gasoline prices, are keeping prices historically low. But there are reasons prices might not go much lower, however.

A deal reached in December to cut production among the Organization of Petroleum Exporting Countries has not been enough to push prices higher.

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Midland Odessa- $2.10/g, down 4.5 cents per gallon from last week's $2.15/g.

The cheapest gas on average is in South Carolina, Oklahoma and Indiana.

The statewide average was higher than this area, at an average of $2.148. West Texas Intermediate crude futures settled Monday up 2.2 percent, or $1.03, at $47.07 per barrel.

A glut of oil supplies, and only modest summertime gains in consumption, have combined to keep oil and gas prices in check over the past month and during the July 4th holiday when prices usually increase.

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