PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island fell to $4.20 per gallon, 2 cents less than last week and 4 cents lower than the national average, AAA Northeast said on Monday.
As the cost of a barrel of oil has remained near $110, the decline in gas prices has slowed. After hitting $4.33 on March 11, the national average for a gallon of gasoline is now $4.24, but only down a penny since last week. Domestically, gasoline demand is again defying seasonal trends and has dipped for the second straight week, perhaps due to higher pump prices and consumers altering their driving habits, the agency reported.
“The global oil market reflects the volatility caused by the ongoing conflict in Ukraine and resurgent Covid concerns in Asia,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast. “Although the national price of gasoline has moderated over the past three weeks, elevated prices will likely be the norm as we approach peak demand later this spring.”
One year ago, the average price for regular unleaded gasoline in Rhode Island was $2.78 per gallon.
Midgrade gas in Rhode Island averaged $4.57 per gallon Monday.
Premium gas averaged $4.81 per gallon.
Diesel fuel averaged $5.13 per gallon.
In Massachusetts, the average price of regular gas dropped 2 cents week to week to $4.24 per gallon.
One year ago, the average price for regular unleaded gasoline in Massachusetts was $2.76 per gallon.
Midgrade gas in Massachusetts averaged $4.57 per gallon Monday.
Premium gas averaged $4.80 per gallon.
Diesel fuel averaged $5.21 per gallon.
