Home Economy Economic Activity R.I., Mass. gas prices jump more than 40 cents a gallon

R.I., Mass. gas prices jump more than 40 cents a gallon

By

PBN Staff

-

03/09/2026

FUEL PRICES are displayed at a gas station as cars drive by last week in Baltimore, Md. Oil prices spiked near $120 per barrel Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets. / AP PHOTO/STEPHANIE SCARBROUGH

PROVIDENCE – Gasoline prices in both Rhode Island and Massachusetts to continue surge as the war in Iran pushes oil prices past $100 per barrel. The average weekly price of self-serve, regular unleaded gasoline in Rhode Island climbed 48 cents from last week’s price to $3.32 per gallon, AAA Northeast said Monday. That price is

Already a Subscriber? Log in

To Continue Reading This Article

Become a Providence Business News subscriber and get immediate access to all of our premier content and much more.

Learn More and Become a Subscriber

Critical RI business news and analysis updated daily.
1 year of print (26 issues).
Unlimited access to all subscriber only content on our website, on any device.
Free email alerts.
Annual Book of Lists Print Edition.
All special issues produced during subscription term.

Click Here to purchase a paywall bypass link for this article

PBN Branded Content

Spring Forward: Expanding Access to Health and Wellness

As winter gives way to spring, many people take the opportunity to refocus on their…

Learn More

No posts to display

LEAVE A REPLY Cancel reply

PROVIDENCE – Gasoline prices in both Rhode Island and Massachusetts to continue surge as the war in Iran pushes oil prices past $100 per barrel. The average weekly price of self-serve, regular unleaded gasoline in Rhode Island climbed 48 cents from last week's price to $3.32 per gallon, AAA Northeast said Monday. That price is 15 cents lower than the national average and 38 cents higher than it was a year ago. Rhode Island has the 26th highest gas prices in the nation as of Monday, according to AAA. Kansas and Oklahoma have the lowest prices in the nation at $2.92 and $2.97, respectively. Oil prices spiked to near $120 per barrel Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets. Cargo ships remain at a standstill at the critical Strait of Hormuz, storage depots across the region have started to fill up. Iraq, Kuwait, Qatar and other oil producers have subsequently dialed back production since there are few places for newly pumped oil to go, AAA said. The price for a barrel of Brent crude, the international standard, climbed to $119.50 per barrel early in the day but later was trading above $101 per barrel, up 9%. West Texas Intermediate, the light, sweet crude oil produced in the U.S., also soared above $119.48 per barrel but fell back closer to $100. Over the past seven days, the national average for a gallon of regular unleaded has climbed more than 15% – the highest weekly increase since 2022, when prices climbed 60 cents between March 2 and March 9 following Russia’s invasion of Ukraine. In some markets, the weekly price increases were the highest ever recorded. Along with gasoline, diesel, jet fuel and other petroleum products saw significant increases last week. The dramatic rise in gas prices comes even as domestic supply and demand data shows steady U.S. production and comfortable supplies of gasoline, according to the Energy Information Administration. Gasoline demand took a step back for the week ending Feb. 27, falling nearly 500,000 barrels a day to a comparatively weak 8.29 million barrels a day, the EIA reported last week. Inventories in the Northeast stand at 66.7 million barrels – an increase of 1.7 million barrels over the prior week and a slight increase over a year ago and the five-year average. “Even with strong domestic production of oil and refined products, gas prices are heavily influenced by the price of crude oil,” said Jillian Young, director of public relations for AAA Northeast. “Additionally, global supply issues caused by the conflict in the Middle East could cause additional export pressure on the United States as more countries look to different sources to meet their energy needs.” Midgrade gas in Rhode Island averages $4 per gallon, premium gas averages $4.43 per gallon and diesel fuel averages $4.76 per gallon. In Massachusetts, the average weekly price of self-serve, regular unleaded also is up 40 cents at $3.31 per gallon. That price, which AAA said is the 26th highest in the nation as of Monday, is 15 cents less than the national average and 39 cents higher than it was a year ago. Midgrade gas in the Bay State averages $3.88 per gallon, premium gas averages $4.25 per gallon and diesel fuel averages $4.69 per gallon. Material from The Associated Press was used in this report.