PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island fell to $4.13 per gallon, 7 cents less than last week and 5 cents lower than the national average, AAA Northeast said on Monday.
President Joe Biden’s decision March 31 to release 1 million barrels of oil per day for six months (180 million barrels) from the Strategic Petroleum Reserve helped send the global oil price tumbling to near $100 a barrel, the agency said. The release is intended to stem rising energy prices.
“The upward push on oil prices caused by Russia’s war in Ukraine is meeting stronger downward pressure from the planned SPR oil release and increased COVID fears in China,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast. “And lower global oil prices are reflected in falling pump prices for consumers in the U.S.”
One year ago, the average price for regular unleaded gasoline in Rhode Island was $2.77 per gallon.
Midgrade gas in Rhode Island averaged $4.51 per gallon Monday.
Premium gas averaged $4.77 per gallon.
Diesel fuel averaged $5.11 per gallon.
In Massachusetts, the average price of regular gas dropped 6 cents week to week to $4.18 per gallon.
One year ago, the average price for regular unleaded gasoline in Massachusetts was $2.74 per gallon.
Midgrade gas in Massachusetts averaged $4.53 per gallon Monday.
Premium gas averaged $4.76 per gallon.
Diesel fuel averaged $5.18 per gallon.
