PROVIDENCE – The average price of self-serve, regular unleaded gasoline surged to record highs in both Rhode Island and Massachusetts due to rising oil prices.
In Rhode Island, regular unleaded gasoline increased to $4.37 per gallon, 19 cents more than last week and 5 cents higher than the national average, AAA Northeast said on Monday.
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Learn MoreOne year ago, the average price for regular unleaded gasoline in Rhode Island was $2.88 per gallon.
In the past two weeks, the national average for a gallon of gasoline has risen 20 cents to $4.32, a penny less than the record high set on March 11. The increase is primarily due to the high cost of crude oil, which was hovering near $100 a barrel last week and is now closing in on $110, AAA Northeast said.
“With the cost of oil accounting for more than half of the pump price, more expensive oil means more expensive gasoline,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast. “Locally, prices have now moved past those record-high levels of early March.”
One year ago, the average price for regular unleaded gasoline in Rhode Island was $2.83 per gallon.
Midgrade gas in Rhode Island averaged $4.72 per gallon Monday.
Premium gas averaged $4.96 per gallon.
Diesel fuel averaged $6.13 per gallon.
In Massachusetts, the average price of regular gas increased 18 cents from a week ago to $4.39 per gallon.
One year ago, the average price for regular unleaded gasoline in Massachusetts was $2.85 per gallon.
Midgrade gas in Massachusetts averaged $4.69 per gallon Monday.
Premium gas averaged $4.93 per gallon.
Diesel fuel averaged $6.27 per gallon.