PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island dipped by 3 cents to $3.03 per gallon this week. That is 4 cents lower than the national average, AAA Northeast said on Tuesday.
With record low temperatures across a large swath of the country this week, oil and gas markets are anticipating the potential for reduced production caused by the cold, the agency said. At the same time, oil prices can rise as Americans crank their thermostats, which could increase gas prices.
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“The national average for a gallon of gas is very close to a flat $3 a gallon and we’re not far behind here in the Northeast,” said Mark Schieldrop, senior spokesperson for AAA Northeast. “But prices might waffle a bit on weather-related concerns and the potential for escalating tensions in the Middle East, which so far have not had a lasting impact on oil prices.”
Midgrade gas in Rhode Island averages $3.69 per gallon, premium gas averages $4.04 per gallon and diesel fuel averages $4.20 per gallon, AAA Northeast said.
A year ago, the price of regular gas in Rhode Island was $3.25 per gallon.
In Massachusetts, the average price of self-serve, regular unleaded gasoline is down 4 cents from last week to $3.13 per gallon.
Midgrade gas in the Bay State averages $3.72 per gallon, premium gas averages $4.06 per gallon and diesel fuel averages $4.16 per gallon.
A year ago, the price of regular gas in Massachusetts was $3.30 per gallon.
