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Rhode Island gasoline prices fell five cents last week but remain substantially higher than this time last year as oil prices continue to stubbornly hover in the $90 per barrel range.
Rhode Island’s average gas price is down five cents from last week ($3.75), averaging $3.70 per gallon. Today’s price is four cents lower than a month ago ($3.74), and 37 cents higher than Oct. 2, 2022 ($3.33). Rhode Island’s average gas price is 11 cents lower than the national average.
“Motorists might be glad to see some relief at the pump in recent days, but in comparison to a typical autumn, prices are falling slowly – like a feather,” said Mark Schieldrop, AAA Northeast Senior Spokesperson. “The slow pace of declines is rooted in the elevated price of crude oil, which surged to yearly highs in September. Until U.S. oil refineries fully complete the switchover to cheaper-to-produce winter blend gasoline in coming weeks, prices could remain elevated here in the Northeast.”
AAA Northeast’s Oct. 2 survey of fuel prices found the current national average to be three cents lower than last week ($3.84), averaging $3.81 a gallon. Today’s national average price is the same as a month ago ($3.81) and is two cents higher than this day last year ($3.79).
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