R.I. gas prices drop 4 cents this week

THE AVERAGE PRICE of regular gas in Rhode Island declined 4 cents to average $2.64 per gallon this week. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
THE AVERAGE PRICE of regular gas in Rhode Island declined 4 cents to average $2.64 per gallon this week. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT

PROVIDENCE – The average price of self-serve, regular unleaded gas in Rhode Island declined 4 cents this week to $2.64 per gallon, 9 cents higher than the national average of $2.55 per gallon and 4 cents higher than this time last year, according to AAA Northeast Monday.

Prices for regular gas ranged 42 cents, from $2.43 per gallon to $2.85 per gallon.

  • Midgrade gas averaged $2.81 per gallon, ranging from $2.68 to $2.93 per gallon
  • Premium gas averaged $3.01 per gallon, ranging from $2.88 to $3.12 per gallon
  • Diesel fuel averaged $3.18 per gallon, ranging from $2.98 to $3.26 per gallon

“The value of a barrel of oil has tumbled roughly 30 percent in the last seven weeks, hitting its lowest price point in more than a year,” said Lloyd Albert, AAA Northeast senior vice president of public and government affairs, in a statement. “That dramatic plunge is pushing down prices at the pump, providing an early holiday gift to consumers. December may bring some of the cheapest gas prices of 2018.”

In Massachusetts, the price of gas declined 2 cents to average $2.69 per gallon, 14 cents higher than the national average and 21 cents higher than this time last year.

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  • Midgrade gas in Massachusetts averaged $2.98 per gallon, ranging from $2.72 to $3.29 per gallon
  • Premium gas averaged $3.15 per gallon, ranging from $2.91 to $3.49 per gallon
  • Diesel fuel averaged $3.18 per gallon, ranging from $2.94 to $3.39 per gallon