PRICES CONTINUE to increase – now averaging $1.59
Pumped up prices
Gasoline prices last week topped $1.60 per gallon at some local service stations on their way to $2.00 per gallon, according to some projections, thanks to soaring oil prices. In response, Providence Business News has begun tracking local gas prices. Check back each week for the news of the crisis, tips for saving gas and the latest price surveys from the State Energy Office, AAA Southern New England and PBN.
And let us know how the price spike is affecting your business and your personal life by sending us an e-mail at editor@pbn.com.
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
Recent developments upcoming events:
The Organization of Petroleum Exporting Countries meets next Monday, March 27. The Clinton administration has been leaning on OPEC officials to boost oil productions. The gasoline price spike is the result of a global oil shortage stemming from OPEC production cuts.
Think prices are high here? The monthly average price of gasoline in California is approaching $1.74 this month, up 28 cents from last month, and residents of the San Francisco Bay Area already are paying more than $1.80 per gallon at the pumps, according to AAA officials in California.
Tips for drivers:
The Federal Trade Commission estimates consumers can save a few hundred bucks a year on gas just by keeping the vehicle’s engine tuned and tires inflated to the proper pressure.
Driving at a consistent speed is another way to improve gas mileage, so use the cruise control on long trips, according to automobile experts at the Specialty Equipment Market Association in Diamond Bar, Calif.
Notes: all prices are self-serve regular and rounded to whole cents. The PBN survey is of individual, randomly selected service stations in the area as of March 15. The PBN survey will cover the same stations next week.
Average price per gallon of regular unleaded gas:
Last Week Previous Week Increase
State survey $1.57 $1.52 5 cents
AAA survey $1.59 $1.54 5 cents
PBN survey $1.60 N/A N/A
Details of PBN survey
Milford, Mass. $1.63
East Greenwich $1.62
Jamestown $1.62
Providence $1.61
Cranston $1.60
North Providence $1.60
Warwick $1.60
Wrentham, Mass. $1.58
Smithfield $1.58
Pawtucket $1.56
Narragansett $1.55
Highest local price surveyed:
AAA survey $1.67
