Rhode Island’s average gas price is down 2 cents from last week ($4.22), averaging $4.20 per gallon. Today’s price is 61 cents higher than a month ago ($3.59), and $1.42 higher than March 28, 2021 ($2.78). Rhode Island’s average gas price is 4 cents lower than the national average.
As the cost of a barrel of oil has remained near $110, the gas price decline has slowed. After hitting $4.33 on March 11, the national average for a gallon of gasoline is now $4.24, but only down a penny since last week. Domestically, gasoline demand is again defying seasonal trends and has dipped for the second straight week, perhaps due to higher pump prices and consumers altering their driving habits.
“The global oil market reflects the volatility caused by the ongoing conflict in Ukraine and resurgent Covid concerns in Asia,” said Lloyd Albert, Senior Vice President of Public and Government Affairs for AAA Northeast. “Although the national price of gasoline has moderated over the past three weeks, elevated prices will likely be the norm as we approach peak demand later this spring.”
AAA Northeast’s March 28 survey of fuel prices found the current national average to be 1 cent lower than last week ($4.25), averaging $4.24 a gallon. Today’s national average price is 63 cents higher a month ago ($3.61), and $1.38 higher than this day last year ($2.86).
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