Rhode Island’s average gas price is down one cent from last week ($3.76), averaging $3.75 per gallon. Today’s price is .13 cents higher than a month ago ($3.62), and .21 cents lower than Aug. 28, 2022 ($3.96). Rhode Island’s average gas price is six cents lower than the national average.
The national average for a gallon of gas dropped since last week, despite growing gas demand. However, the price of oil has declined several dollars per barrel and is holding steady around or below $80, contributing to lower pump prices. As Labor Day approaches, gas demand and volatile oil prices, particularly during an active hurricane season, could limit how much lower prices descend in the weeks ahead.
“Although the national average did a U-turn this week, the road ahead could lead to higher prices,” said Mark Schieldrop, AAA Northeast Senior Spokesperson. “Ongoing concerns regarding potential storm activity could hinder falling pump prices this fall.”
AAA Northeast’s Aug. 28 survey of fuel prices found the current national average to be five cents lower than last week ($3.86), averaging $3.81 a gallon. Today’s national average price is .08 cents higher than a month ago ($3.73) and is .04 cents lower than this day last year ($3.85).
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