PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island dropped 4 cents to $3.56 per gallon this week. That is 3 cents lower than the national average, AAA Northeast said on Monday.
The agency said that compared to a year ago, Americans have consumed 1.5% less gasoline in 2024, according to the Energy Information Administration. Whether growing electric and hybrid vehicle adoption
– along with more fuel-efficient vehicles on the road
– is taking a bite out of typical demand figures, the result has been to keep some pressure off gas prices.
With AAA projecting the second-highest Memorial Day travel period on record starting this weekend, petroleum markets are watching closely for guidance.
“Drivers are benefiting from falling gas prices ahead of the Memorial Day holiday,” said Mark Schieldrop, senior spokesperson for AAA Northeast. “Even if demand spikes over the holiday, refiners are continuing to ramp up production to meet typical seasonal demand.”
Midgrade gas in Rhode Island averages $4.18 per gallon, premium gas averages $4.52 per gallon and diesel fuel averages $4.23 per gallon, AAA Northeast said.
A year ago, the price of regular gas in Rhode Island was $3.41 per gallon.
In Massachusetts, the average price of self-serve, regular unleaded gas decreased 3 cents, to $3.55 per gallon.
Midgrade gas in the Bay State averages $4.09 per gallon, premium gas averages $4.46 per gallon and diesel fuel averages $4.15 per gallon.
A year ago, the price of regular gas in Massachusetts was $3.43 per gallon.