PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island was $3.73 per gallon, 2 cents less than last week and 8 cents below the national average, according to AAA Northeast on Tuesday.
Although gas prices have been ticking down slightly in recent weeks, the agency said the price of oil has surged in response to Saudi Arabia’s announcement that production cuts implemented in June will be extended through the rest of the year.
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Crude oil prices are at the highest level since last November and could have an impact on pump prices in the coming weeks.
“Motorists hoping for gas prices to drop substantially in September might be disappointed as the end of the summer driving season is capped with robust Labor Day travel and stronger gasoline demand,” said Mark Schieldrop, AAA Northeast senior spokesperson. “Higher oil prices, coupled with steady demand, could pause the traditional end-of-summer swoon for pump prices.”
Midgrade gas in Rhode Island averaged $4.33 per gallon, while premium gas averaged $4.67 per gallon and diesel fuel averaged $4.35 per gallon, AAA Northeast said.
In Massachusetts, the average price of regular gas also dropped 2 cents to $3.74 per gallon.
The price of regular gas in the Bay State one year ago was $3.92 per gallon.
Midgrade gas in Massachusetts averaged $4.47 per gallon on Tuesday, while premium gas averaged $4.59 per gallon and diesel fuel averaged $4.39 per gallon.
