PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island was $3.75 per gallon, 1 cent less than last week and 6 cents below the national average, according to AAA Northeast on Monday.
The national average for a gallon of gas dropped since last week, despite growing gas demand, the automotive and travel agency said. However, the price of oil has declined several dollars per barrel and is holding steady around or below $80, contributing to lower prices at the pump. As Labor Day approaches, gas demand and volatile oil prices, particularly during an active hurricane season, could limit how much lower prices descend in the weeks ahead.
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“Although the national average did a U-turn this week, the road ahead could lead to higher prices,” said Mark Schieldrop, AAA Northeast senior spokesperson. “Ongoing concerns regarding potential storm activity could hinder falling pump prices this fall.”
Midgrade gas in Rhode Island averaged $4.33 per gallon, while premium gas averaged $4.67 per gallon and diesel fuel averaged $4.34 per gallon, AAA Northeast said.
In Massachusetts, the average price of regular gas also dropped 1 cent to $3.76 per gallon.
The price of regular gas in the Bay State one year ago was $4.07 per gallon.
Midgrade gas in Massachusetts averaged $4.27 per gallon on Monday, while premium gas averaged $4.60 per gallon and diesel fuel averaged $4.38 per gallon.
