PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island dropped to $4.27 per gallon, 14 cents less than last week but still 24 cents higher than the national average, AAA Northeast said Tuesday.
One year ago, the average price for regular unleaded gasoline in Rhode Island was $3.06 per gallon.
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The agency said with the price of oil dropping, the state could see prices below $4 by the end of the week.
“Oil accounts for almost 60% of pump prices, so with the price of oil dropping, prices at the pump follow suit,” said Lloyd Albert, senior vice president of government and public affairs for AAA Northeast. “Couple that with falling demand for gasoline, and you have a recipe for prices continuing to ease.”
Midgrade gas in Rhode Island averaged $4.83 per gallon Tuesday.
Premium gas averaged $5.12 per gallon.
Diesel fuel averaged $5.39 per gallon.
In Massachusetts, the average price of regular gas fell 11 cents from a week ago to $4.35 per gallon.
Midgrade gas in Massachusetts averaged $4.86 per gallon.
Premium gas averaged $5.15 per gallon.
Diesel fuel averaged $5.42 per gallon.
