PROVIDENCE – Gasoline prices in Rhode Island have fallen for the fourth week in a row, AAA Southern New England reported Monday.
The auto club’s June 8 survey found the average price of self-serve, unleaded regular at Ocean State stations was $2.75 per gallon, down 4 cents from last week and 22 cents over the past month.
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Oil prices were little changed in trading on Monday morning, Bloomberg News reported. Crude oil traded at $71.40 a barrel, down 11 cents, at 6:28 a.m. on the New York Stock Exchange.
Earlier, oil had fallen as low as $69.51 a barrel as investors continued to fear the European debt crisis could hurt the global economic recovery, dampening demand for fuel.
“The U.S. payroll data was on the weak side of expectations and put a question mark next to the rate of U.S. economic recovery,” David Moore, a commodity strategist at Commonwealth Bank of Australia Ltd. in Sydney, told Bloomberg. “Concerns about Europe haven’t gone away.”
In its survey, AAA found prices in Rhode Island ranging from $2.59 to $2.97 per gallon for unleaded regular. At $2.75, the average price per gallon in Rhode Island is 3 cents higher than the average price nationwide of $2.72.
A year ago, gas prices in Rhode Island stood at $2.58 per gallon, having climbed again after a steep drop from the record highs of the summer of 2008, according to AAA.
Prices also fell in Massachusetts. The AAA survey found the average price of self-serve, unleaded regular was $2.73 per gallon in the Bay State, down 3 cents from last week and 2 cents below Rhode Island’s average.
At stations in Rhode Island this week, the survey found average self-serve prices of $2.91 per gallon for midgrade unleaded, $3.03 for premium unleaded gasoline, and $3.02 for diesel.
Additional information is available at aaa.com.
