PROVIDENCE – The historic surge in gas prices has paused for the moment.
The average price of self-serve, regular unleaded gasoline in both Rhode Island and Massachusetts remained the same as last week, AAA Northeast said on Tuesday.
In Rhode Island, the average gas price remained at $4.71 per gallon, 9 cents more than the national average.
The agency said a dip in gasoline demand provided drivers with a bit of stability at the pump, as the national average for a gallon rose less than three cents over the past week to reach $4.62. But warns this respite could be brief. Crude oil has moved above $115 a barrel due to fears of further global supply constraints caused by a European Union ban on Russian oil exports. And domestic gas demand may again start to climb as drivers fuel up for the three-month-long summer travel season, which began this past weekend.
“So far, the pent-up urge to travel caused by the pandemic outweighs high pump prices for many consumers,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast. “But 67% of drivers recently surveyed told us they would change their driving habits if gas hit $4.50 a gallon. That number rises to 75% at $5 a gallon. If pump prices keep rising, will people alter their summer travel plans? That remains to be seen.”
One year ago, the average price for regular unleaded gasoline in Rhode Island was $2.94 per gallon.
Midgrade gas in Rhode Island averaged $5.11 per gallon Tuesday.
Premium gas averaged $5.38 per gallon.
Diesel fuel averaged $6.32 per gallon.
In Massachusetts, the average price for regular unleaded gasoline was $4.73 per gallon, an increase from $2.91 a gallon year over year.
Midgrade gas in Massachusetts averaged $5.06 per gallon Tuesday.
Premium gas averaged $5.33 per gallon.
Diesel fuel averaged $6.25 per gallon.