Gas prices fall in R.I., Mass., after hitting record highs

THE AVERAGE PRICE of self-serve, regular unleaded gasoline in Rhode Island fell to $4.22 per gallon, 13 cents less than last week and 3 cents lower than the national average, AAA Northeast said on Monday. / AP FILE PHOTO/JOHN RAOUX

PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island fell to $4.22 per gallon, 13 cents less than last week and 3 cents lower than the national average, AAA Northeast said on Monday. 

After hitting a record $4.33 on March 11, the national average for a gallon of gasoline has fallen to $4.25. The primary reason is the lower global price of crude oil, which peaked shortly after Russia launched its war in Ukraine, but is now more than $20 lower and hovering near $105 per barrel. Domestically, gasoline demand is defying seasonal trends and has dipped slightly, perhaps in response to higher prices at the pump, the agency added.

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“Usually this time of year, with warmer weather and longer days, we’d see an uptick in gasoline demand as more people hit the road,” said Lloyd Albert, senior vice president of public and government Affairs for AAA Northeast. “But demand was down slightly last week, likely due in part to higher pump prices. As geopolitical tensions continue unabated, we can expect to see more volatility in oil prices, leading to significant fluctuations in the price of gasoline and diesel in the near term.” 

One year ago, the average price for regular unleaded gasoline in Rhode Island was $2.78 per gallon. 

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Midgrade gas in Rhode Island averaged $4.60 per gallon Monday. 

Premium gas averaged $4.84 per gallon. 

Diesel fuel averaged $4.99 per gallon. 

In Massachusetts, the average price of regular gas dropped 9 cents week to week to $4.26 per gallon. 

One year ago, the average price for regular unleaded gasoline in Massachusetts was $2.76 per gallon. 

Midgrade gas in Massachusetts averaged $4.60 per gallon Monday. 

Premium gas averaged $4.81 per gallon. 

Diesel fuel averaged $5.07 per gallon. 

 

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