PROVIDENCE – Gasoline prices in Rhode Island have fallen for the first time in six weeks, AAA Southern New England reported today.
The auto club’s Sept. 8 survey found the average price of self-serve, unleaded regular at Ocean State stations was $2.67 per gallon, down 2 cents from last week. It marks the first time prices have declined since late July.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
Learn More
With yesterday’s Labor Day holiday marking the symbolic end of the summer driving season, crude oil prices finished the three-month period at around $68 a barrel in New York trading, nearly unchanged from where they started in June, according to Bloomberg News.
Several members of the Organization of Petroleum Exporting Countries, which product 40 percent of world oil supply, said they were satisfied with the current price level ahead of their meeting tomorrow.
Gasoline consumption usually falls in the U.S. during September and October, which lets refiners do maintenance work before demand for home heating oil incresaes, Bloomberg noted.
In its survey, AAA found prices in Rhode Island ranging from $2.57 to $2.75 per gallon for unleaded regular. At $2.67, the average price per gallon in Rhode Island is 10 cents higher than the average price nationwide of $2.57.
A year ago, gas prices in Rhode Island had begun their rapid descent from last summer’s record highs but still stood at $3.55 per gallon, according to AAA.
In Massachusetts, prices have fallen for the first time in seven weeks. The AAA survey found the average price of self-serve, unleaded regular was $2.61 per gallon in the Bay State, down 3 cents from last week.
At stations in Rhode Island this week, the survey found average self-serve prices of $2.81 per gallon for midgrade unleaded, $2.92 for premium unleaded gasoline, and $2.75 for diesel.
For more information, visit AAA.com.
