PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island declined 1 cent to $3.33 per gallon this week. That average is 8 cents higher than the national average, AAA Northeast said on Monday.
Midgrade gas in Rhode Island averages $3.95 per gallon, premium gas averages $4.30 per gallon and diesel fuel averages $4.41 per gallon, AAA Northeast said.
A year ago, the price of regular gas in Rhode Island was $3.70 per gallon.
As millions of Americans took to the road over the Thanksgiving holiday, gas prices barely budged in the Northeast, but still managed to eke out declines for a 10th straight week, the agency said Monday. Meanwhile, the average price for a gallon of gas is below $3 a gallon in 14 states.
Petroleum markets also took a breather over the holiday after the unexpected postponement of Wednesday’s OPEC+ meeting to Nov. 30, when a decision on extending the cartel’s production cuts is expected. Additionally, the U.S. Energy Information Administration reported lower gasoline demand figures for the week preceding the holiday.
“Even with near-record Thanksgiving travel and the potential for further output cuts from oil producers in the Middle East and elsewhere, domestic oil and gasoline inventories surged last week, sending prices lower,” said AAA Northeast senior spokesperson Mark Schieldrop. “And that trend is likely to continue.”
In Massachusetts, the average price of self-serve, regular unleaded gasoline is $3.40 per gallon, down 2 cents from last week.
Midgrade gas in the Bay State averages $3.96 per gallon, premium gas averages $4.33 per gallon and diesel fuel averages $4.37 per gallon.
A year ago, the price of regular gas in Massachusetts was $3.76 per gallon.