Rhode Island’s average gas price is down 1 cent from last week ($3.41), averaging $3.40 per gallon. Today’s price is 14 cents higher than a month ago ($3.26), and 3 cents lower than February 6, 2022 ($3.43). Rhode Island’s average gas price is 7 cents lower than the national average.
The national average for a gallon of gas barely budged over the past week, drifting lower by three cents to $3.47. Last week’s decision by OPEC+ to maintain current production levels and not make any cuts led to lower oil prices. But Friday’s blockbuster U.S. report of 517,000 jobs added in January, dropping the unemployment rate to a 54-year low of 3.4%, may have the opposite effect. Are recession fears fading, and could a healthier global economy lead to more demand for oil and higher prices?
“Keep an eye on the price of oil,” said Diana Gugliotta, Director of Public Affairs for AAA Northeast, “because oil currently accounts for nearly 60% of what we pay at the pump. And rising or falling oil prices can have a direct impact on motorists’ wallets.”
AAA Northeast’s February 6 survey of fuel prices found the current national average to be 3 cents lower than last week ($3.50), averaging $3.47 a gallon. Today’s national average price is 18 cents higher than a month ago ($3.29), and is 4 cents higher than this day last year ($3.43).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Rhode Island | $3.40 | $3.41 | $3.26 | $3.43 |
| Massachusetts | $3.42 | $3.43 | $3.34 | $3.44 |
| Connecticut | $3.34 | $3.35 | $3.18 | $3.56 |
*Prices as of February 6, 2023
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