Gas prices tumble in R.I., Mass.; still above national average

THE AVERAGE PRICE of self-serve, regular unleaded gasoline in Rhode Island dropped to $4.60 per gallon, 11 cents less than last week and 8 cents higher than the national average, AAA Northeast said Monday. / ASSOCIATED PRESS FILE PHOTO

PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island dropped to $4.60 per gallon, 11 cents less than last week but still 8 cents higher than the national average, AAA Northeast said Monday. 

One year ago, the average price for regular unleaded gasoline in Rhode Island was $3.04 per gallon. 

The agency said on Monday the steady decline in recent weeks is due to lower domestic demand for gasoline at the pump and a much lower global price for oil. The cost of a barrel of oil is in the mid-$90s, down from around $110 two weeks ago. 

“Global economic news is pushing oil prices lower, and less expensive oil leads to lower pump prices,” said Lloyd Albert, senior vice president of government and public affairs for AAA Northeast. “And here at home, people are fueling up less, despite this being the height of the traditional summer driving season. These two key factors are behind the recent drop in pump prices.” 

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Midgrade gas in Rhode Island averaged $5.14 per gallon Monday.  

Premium gas averaged $5.42 per gallon.  

Diesel fuel averaged $5.85 per gallon. 

In Massachusetts, the average price of regular gas fell 11 cents from a week ago to $4.63 per gallon.  

One year ago, the average price for regular unleaded gasoline in Massachusetts was $3.02 per gallon.  

Midgrade gas in Massachusetts averaged $5.12 per gallon Monday.  

Premium gas averaged $5.39 per gallon.  

Diesel fuel averaged $5.80 per gallon. 

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