PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island dipped to $3.50 per gallon, 1 cent less than last week and 5 cents lower than the national average, according to AAA Northeast.
“Although millions hit the road for Memorial Day, gasoline demand fell,” said Diana Gugliotta, director of public affairs for AAA Northeast. “Analysts will now be watching for signs of price movement related to upcoming OPEC production cuts.”
Saudi Arabia announced Sunday it will cut its oil output by 1 million barrels per day to boost sagging prices after a meeting of the alliance at OPEC headquarters in Vienna. The rest of the OPEC+ oil producers agreed to extend earlier cuts in supply through the end of 2024.
Midgrade gas in Rhode Island averaged $4.07 per gallon on Monday, while premium gas averaged $4.45 per gallon and diesel fuel averaged $4.26 per gallon.
In Massachusetts, the average price of regular gas was the same as a week ago, $3.52 per gallon.
One year ago, the average price for regular unleaded gasoline in the Bay State was $4.94 per gallon.
Midgrade gas in Massachusetts averaged $4.01 per gallon on Tuesday, while premium gas averaged $4.36 per gallon and diesel fuel averaged $4.25 per gallon.
