R.I., Mass. gas prices drop 5 cents, most this year

THE AVERAGE PRICE of regular gas in Rhode Island and Massachusetts declined 5 cents this week to $2.72 per gallon and $2.74 per gallon, respectively. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
THE AVERAGE PRICE of regular gas in Rhode Island and Massachusetts declined 5 cents this week to $2.72 per gallon and $2.74 per gallon, respectively. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT

PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island declined 5 cents this week to $2.72 per gallon, the largest one-week drop of gas prices this year, according to AAA Northeast Tuesday.

“Prices could plunge even lower, especially if we see a surge in gasoline production after refiners fully restart units from the fall maintenance season,” said Lloyd Albert, AAA Northeast senior vice president of public and government affairs, in a statement. “Also driving down pump prices is the fact that crude oil is selling under $65 per barrel – a rare sight this year.”

The price of gas in Rhode Island was 4 cents higher than the national average of $2.68 per gallon, and 14 cents higher than this time last year, when gas averaged $2.58 per gallon.

Prices this week ranged 47 cents, from $2.52 to $2.99 per gallon.

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  • Midgrade gas averaged $2.79 per gallon, ranging from $2.64 to $3.03 per gallon
  • Premium gas averaged $3.09 per gallon, ranging from $2.74 to $3.39 per gallon
  • Diesel fuel averaged $3.23 per gallon, ranging from $2.89 to $3.70 per gallon

In Massachusetts, the average price of regular gas also declined 5 cents to $2.74 per gallon, 6 cents higher than the national average and 21 cents higher than this time last year. The 5 cent decline was also the largest one-week price drop for Massachusetts this year.

Prices in the Bay State ranged 58 cents this week, from $2.51 to $3.09 per gallon.

  • Midgrade gas averaged $3.02 per gallon, ranging from $2.79 to $3.29 per gallon
  • Premium gas averaged $3.19 per gallon, ranging from $2.91 to $3.49 per gallon
  • Diesel fuel averaged $3.21 per gallon, ranging from $2.99 to $3.40 per gallon