R.I. gas prices jump 5 cents, just under $3 mark

PROVIDENCE – Gasoline prices in Rhode Island jumped 5 cents from last week, AAA Southern New England reported Monday.
The auto club’s Nov. 15 survey found the average price of self-serve, unleaded regular at Ocean State stations was $2.96 per gallon, up 5 cents from last week and 8 cents over the past two weeks.
On the New York Mercantile Exchange, crude oil for December delivery advanced 30 cents, or 0.4 percent, to $85.18 a barrel at 10:16 a.m., Bloomberg News reported. Futures rose as much as 89 cents to $85.77.
“The gasoline market is giving crude some support,” said Tom Bentz, a broker with BNP Paribas Commodity Futures Inc. to Bloomberg News. “There’s tightness in New York Harbor which started with last month’s French strike, which limited imports. Since then we’ve had maintenance and unplanned outages at refineries that have further tightened supply.”
Gasoline for December delivery increased 2.1 cents, or 1 percent, to $2.2309 a gallon in New York.
In its survey, AAA found prices in Rhode Island ranging from $2.89 to $3.05 per gallon for unleaded regular. At $2.96, the average price per gallon in Rhode Island is 7 cents higher than the average price nationwide of $2.89.
A year ago, gas prices in Rhode Island stood at $2.67 per gallon.
Pump prices also increased in Massachusetts by an average of 6 cents from last week. The AAA survey found the average price of self-serve, unleaded regular was $2.88 per gallon in the Bay State.
At stations in Rhode Island this week, the survey found average self-serve prices of $3.08 per gallon for midgrade unleaded, $3.19 for premium unleaded gasoline, and $3.21 for diesel.
For more information, visit AAA.com.