PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island increased 1 cent to $3.30 per gallon this week. That is 23 cents lower than the national average, AAA Northeast said on Monday.
The agency said a sizable increase in domestic crude oil inventories and a slight drop in gasoline demand last week is tempering the seasonal trend of climbing pump prices for now.
However, the potential for record-breaking travel this week could spur a spike in gasoline demand as millions of travelers gravitate toward prime total solar eclipse viewing spots on April 8. Easter-related travel, coupled with many schools taking the week off for spring break, could also fuel increased demand. With crude oil prices up about 15% since the start of the year, a surge in demand could accelerate the pace of gas price increases.
“It’s not unusual for prices to wobble this time of year, but the overall gas price trend between now and summer is typically a steady climb,” said Jillian Young, director of public relations for AAA Northeast. “Gasoline supplies are healthy here in the Northeast, which means pump prices are less vulnerable to price spikes after a surge in demand or geopolitical events that impact oil and gas markets.”
Midgrade gas in Rhode Island averages $3.90 per gallon, premium gas averages $4.27 per gallon and diesel fuel averages $4.26 per gallon, AAA Northeast said.
A year ago, the price of regular gas in Rhode Island was $3.27 per gallon.
In Massachusetts, the average price of self-serve, regular unleaded gas increased 1 cent to $3.31 per gallon.
Midgrade gas in the Bay State averages $3.84 per gallon, premium gas averages $4.21 per gallon and diesel fuel averages $4.21 per gallon.
A year ago, the price of regular gas in Massachusetts was $3.27 per gallon.