Recovery of oil and gasoline operations in the Gulf, lower consumer demand, and declining crude oil prices have sent gasoline prices in Rhode Island spiraling downward, according to AAA Southern New England.
Prices have fallen 14 cents over the last week, AAA says, and 24 cents in the last two weeks. They are now at levels found in late August, prior to Hurricane Katrina.
AAA’s October 24 survey of prices in Rhode Island found self-serve unleaded regular averaging $2.579 per gallon, down 14 cents from last week.
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When Katrina hit, gas averaged $2.639 locally, then prices jumped rapidly to record levels. A year ago at this time, the average price was $2.069.
The range in prices in AAA’s survey for regular unleaded was 26 cents, from a low of $2.439 to a high of $2.699. Premium unleaded was selling for an average of $2.809, with a 30-cent price range, and diesel prices averaged $2.989, with only a 4-cent price variation.
