PROVIDENCE – Gasoline prices in Rhode Island have risen for the fifth consecutive week, AAA Southern New England reported Monday.
The auto club’s May 3 survey found the average price of self-serve, unleaded regular at Ocean State stations was $2.95 per gallon, up 8 cents from last week and 29 cents since the start of the year.
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Crude oil prices fell in London after rising to $87.78 a barrel, their highest price since Oct. 7, 2008, following a decision by China’s central bank to increase reserve ratios, Bloomberg News reported.
In New York, crude oil for June delivery was at $86.17 a barrel, up 2 cents, at 5:39 a.m., after earlier rising as much as 64 cents to $86.79 a barrel. Oil prices in New York have risen 13 percent in the past three months, hitting a 17-month high of $87.09 on April 6.
In its survey, AAA found prices in Rhode Island ranging from $2.83 to $3.06 per gallon for unleaded regular. At $2.95, the average price per gallon in Rhode Island is 6 cents higher than the average price nationwide of $2.89.
A year ago, gas prices in Rhode Island stood at $2.10 per gallon, as the see-saw since the prior summer’s record highs moved upward once more, according to AAA.
Prices also rose in Massachusetts. The AAA survey found the average price of self-serve, unleaded regular was $2.87 per gallon in the Bay State, up 6 cents from last week and 8 cents below Rhode Island’s average.
At stations in Rhode Island this week, the survey found average self-serve prices of $3.07 per gallon for midgrade unleaded, $3.18 for premium unleaded gasoline, and $3.12 for diesel.
For more information, visit AAA.com.
