PROVIDENCE – Gasoline prices fell in Rhode Island and Massachusetts, an average of 4 and 5 cents, respectively, which is good news for motorists traveling on Labor Day weekend, the AAA Southern New England reported Monday.
In Rhode Island, self-serve, regular unleaded gasoline had an average price of $2.66 per gallon, declining for the second consecutive week. A year ago, gas prices stood at $2.69 per gallon in the Ocean State.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
Massachusetts also saw a drop this week, averaging $2.63 per gallon and about 4 cents below the national average.
Crude oil fell for the fist time in four days after the Commerce Department reported personal incomes in July were lower than expected and the savings rate declined, heightening concern over the economy’s recovery, Bloomberg News reported.
Crude oil for October delivery fell 75 cents to $74.42 a barrel at 10:17 a.m. on the New York Mercantile Exchange.
“You do have a lot of evidence that the economy is just stalling,” Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, told Bloomberg. “Policy makers are all making a brave face and saying we’ve got plenty of tools available, but I’m starting to think they’re running out of tricks.”
Oil futures fell 5.7 percent this month, the first decline since May.
In its survey, the AAA found prices in Rhode Island ranging from $2.53 to $2.79 per gallon for unleaded regular.
The range in Massachusetts gas prices was much wider, coming in at 46 cents, from a low of $2.43 to a high of $2.89, the auto club reported.
At stations in Rhode Island this week, the survey found average self-serve prices of $2.82 per gallon for midgrade unleaded and $2.95 for premium unleaded gasoline and diesel.
