Gas prices in R.I., Mass. fall as oil prices slide below $80 per barrel

PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island dropped to $3.43 per gallon, 13 cents less than last week and 29 cents lower than the national average, AAA Northeast said Monday. 

Monday’s price is 57 cents lower than a month ago but still 35 cents higher year over year.  

While prices locally continue to fall, AAA says some parts of the country are seeing increases. Low domestic demand as fewer drivers fuel up and much lower oil prices have helped to blunt some of the impact. On Sept. 23, the price of oil slipped below $80 a barrel for the first time since January, primarily due to fears of a recession-led global economic slowdown. 

“Slack demand and lower oil prices should take some pressure off rising gas prices,” said Lloyd Albert, senior vice president of government and public affairs for AAA Northeast. “But Hurricane Ian could cause problems, depending on the storm’s track, by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries.” 

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Midgrade gas in Rhode Island averaged $4.03 per gallon on Monday.  

Premium gas averaged $4.36 per gallon.  

Diesel fuel averaged $4.82 per gallon. 

In Massachusetts, the average price of regular gas fell 11 cents from a week ago to $3.57 per gallon. One year ago, the average price for regular unleaded gasoline in the Bay State was $3.10 per gallon.  

Midgrade gas in Massachusetts averaged $4.15 per gallon on Monday.  

Premium gas averaged $4.47 per gallon.  

Diesel fuel averaged $4.94 per gallon.