PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island increased to $3.85 per gallon on Monday, 5 cents more than both last week and the national average, according to AAA Northeast.
Monday’s price is 43 cents more than a month ago and 45 cents higher year over year.
The agency said Monday despite fewer U.S. drivers fueling up, the national average pump price rose 4 cents over the past week to hit $3.80. Rising oil prices fueled by worries over Russian oil production cuts have renewed concerns about global supplies.
“The oil market, like the stock market, hates negative headlines, no matter how speculative,” said Diana Gugliotta, director of public affairs for AAA Northeast. “And that is why we see the oil price back over $90 a barrel. More-expensive oil usually leads to more-expensive gasoline.”
Midgrade gas in Rhode Island averaged $4.41 per gallon on Monday.
Premium gas averaged $4.74 per gallon.
Diesel fuel averaged $5.95 per gallon.
In Massachusetts, the average price of regular gas increased 7 cents from a week ago to $3.84 per gallon. One year ago, the average price for regular unleaded gasoline in the Bay State was $3.40 per gallon.
Midgrade gas in Massachusetts averaged $4.33 per gallon on Monday.
Premium gas averaged $4.67 per gallon.
Diesel fuel averaged $5.85 per gallon.
