There are signals that Rhode Island gasoline prices have hit bottom, at least for now, according to The Providence Journal.
Yesterday marked the first significant increase in the average price of gasoline since last summer, and a spike in crude oil prices over the past few days may translate into further increases at the pump.
The average price of self-serve gasoline in Rhode Island yesterday was $1.709 a gallon, up four cents from last week.
Except for a short-lived 2-cent increase last month, gasoline has fallen or stayed the same every week since June, according to the weekly surveys of local stations by the Rhode Island Office of Energy Resources.
But the main driver of gasoline prices -- crude oil futures -- has been rising. Yesterday, light sweet crude for February delivery rose $2.44 cents to $48.78 a barrel on the New York Mercantile Exchange. On Friday, it rose $1.74 to settle at $46.34.





