PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island was $3.77 per gallon on Tuesday, 3 cents higher than last week but still 9 cents below the national average, according to AAA Northeast.
Although the pace of price increases has eased, crude oil prices closed higher for an 11th straight week to end the week last week and gasoline demand spiked to levels not seen since the Independence Day holiday, the agency said Tuesday.
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“We appear to be at a fork in the road when it comes to which direction gas prices will take – up or down,” said Mark Schieldrop, AAA Northeast public affairs specialist. “The summer heat that kept people home and suppressed refinery production has eased for now, so we have to look at the cost of oil to determine if the recent price climb is ending. More expensive oil will likely lead to higher prices.”
Midgrade gas in Rhode Island averaged $4.34 per gallon on Tuesday, while premium gas averaged $4.67 per gallon and diesel fuel averaged $4.32 per gallon.
In Massachusetts, the average price of regular gas increased 3 cents from last week to $3.77 per gallon.
The price of regular gas in the Bay State one year ago was $4.27 per gallon.
Midgrade gas in Massachusetts averaged $4.26 per gallon on Tuesday, while premium gas averaged $4.61 per gallon and diesel fuel averaged $4.34 per gallon.
