PROVIDENCE – Gasoline prices have risen in Rhode Island and Massachusetts for the third consecutive week, AAA Southern New England reported Monday.
The auto club’s Oct. 18 survey found the average price of self-serve, unleaded regular at Ocean State stations was $2.84 per gallon, up 4 cents from last week and 20 cents over the past three weeks.
Crude oil rose for the first time in three days as the dollar pared gains against the euro and as a refinery strike in France entered a second week, Bloomberg News reported.
The price of crude oil for November delivery increased 0.8 percent to $81.89 a barrel at 9:51 a.m. on the New York Mercantile Exchange. Prices declined as much as 90 cents earlier Monday.
“Products are still keeping an eye on the French refinery strike,” said Phil Flynn, vice president of research at PFGBest in Chicago to Bloomberg News.
The price of gasoline for November delivery gained 1.5 percent to $2.1345 a gallon on the Nymex. November heating oil rose 1.2 percent to $2.2571 a gallon.
Central bank stimulus, or quantitative easing, may push oil prices to $100 a barrel in 2011 by weakening the U.S. dollar, Bank of America Merrill Lynch Commodity Strategist Francisco Blanch said in an Oct. 17 research report, Bloomberg reported.
In its survey, AAA found prices in Rhode Island ranging from $2.69 to $2.95 per gallon for unleaded regular. At $2.84, the average price per gallon in Rhode Island is 1 cent higher than the average price nationwide.
A year ago, gas prices in Rhode Island stood at $2.54 per gallon, according to AAA.
Prices also rose for the third consecutive week in Massachusetts. The AAA survey found the average price of self-serve, unleaded regular was $2.78 per gallon in the Bay State, up 5 cents from last week but 5 cents below the national average.
A year ago at this time, the Massachusetts average was $2.49, 29 cents below this week’s average.
At stations in Rhode Island this week, the survey found average self-serve prices of $2.96 per gallon for midgrade unleaded, $3.08 for premium unleaded gasoline, and $3.12 for diesel.
For more information, visit AAA.com
