Gas prices rise 2 cents a gallon to $2.53 in Rhode Island

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According to AAA, the first part of a new year is traditionally strong for oil prices. In Massachusetts, it's still 19 cents higher than at this time a year ago, when prices were averaging $2.29. This phenomenon is normal this time of year, and usually leads to lower gas prices in January and February.

AAA said the high level of gasoline supplies in the region was keeping a lid on prices, and the pace at which refineries were working was "healthy".

However, McKinley said a major factor that should moderate gasoline prices this year is increased fracking activity in North American oil fields.

The per-gallon price of gas was $3.48 early in 2016 before it started going up in October that year until it reached $3.93 in December 2016.

The highest Modesto price listed on modestogasprices.com Thursday morning was $3.39 at the Chevron station at Crows Landing and West Grayson roads.

According to GasBuddy, the nation's yearly gasoline bill will rise to $364.6 billion, some $25 billion higher than what drivers spent a year ago.

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The news comes just a week after GasBuddy's annual report found that 2018 gas prices could be the highest in four years.

"The recent agreement by OPEC, Russia and non-OPEC oil producing countries to extend crude output curbs for all of 2018 appears to provide assurance that oil's 2017 price rebound wasn't a fluke", he said.

State of Tennessee- $2.26, up 1.6 cents per gallon from last week's $2.25.

"The transition from "winter blend" to "summer blend" gasoline which takes place as refiners perform seasonal maintenance results in a reduction in the amount of gasoline produced and can increase gas prices dramatically", says the report.

The nor'easter dumping snow across the U.S. East Coast this week may trigger a short-lived dip in gasoline demand as commuters stay home.

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