PROVIDENCE – The average weekly price of self-serve, regular unleaded gasoline in Rhode Island was $3.50 per gallon on Monday, two cents lower than last week and 4 cents below the national average, according to AAA Northeast.
According to the Energy Information Administration, this year’s July 4 gasoline demand was a weekly high since October 2021 and slightly above the same week last year, the agency reported Monday. The expectation of a cooling economy and higher interest rates in the coming months, however, could weaken demand through the rest of the summer.
“The strong demand we saw over the Fourth of July hasn’t fully continued, and may have peaked for the season,” said Diana Gugliotta, director of public affairs for AAA Northeast.
Midgrade gas in Rhode Island averaged $4.10 per gallon on Monday, while premium gas averaged $4.44 per gallon and diesel fuel averaged $4.17 per gallon.
In Massachusetts, the average price of regular gas remained the same as last week at $3.54 per gallon.
The price of regular gas in the Bay State one year ago was $4.75 per gallon.
Midgrade gas in Massachusetts averaged $4.05 per gallon on Monday, while premium gas averaged $4.41 per gallon and diesel fuel averaged $4.16 per gallon.
