PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island is up 5 cents, to $3.59 per gallon – 2 cents lower than the national average – AAA Northeast said on Monday.
Russia’s invasion of Ukraine has roiled the oil market, with crude spiking briefly to over $100 per barrel before settling back into the mid-$90s. The increase in the global price of oil has led to higher pump prices in the U.S., according to AAA.
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“Russia’s invasion and the responding escalating series of financial sanctions by the U.S. and its allies have given the global oil market the jitters,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast. “Like the U.S. stock market, the oil market responds poorly to volatility. It’s an explosive situation, and a grim reminder that events on the far side of the globe can have a ripple effect for American consumers.”
One year ago, the average price for regular unleaded gasoline in Rhode Island was $2.94 per gallon.
Midgrade gas in Rhode Island averaged $3.91 per gallon Monday.
Premium gas averaged $4.16 per gallon.
Diesel fuel averaged $4.02 per gallon.
In Massachusetts, the average price of regular gas rose 8 cents week to week, to $3.62 per gallon, 1 cent above the national average.
One year ago, the average price for regular unleaded gasoline in Massachusetts was $2.64 per gallon.
Midgrade gas in Massachusetts averaged $3.88 per gallon Monday.
Premium gas averaged $4.11 per gallon.
Diesel fuel averaged $4.05 per gallon.
