Rhode Island’s average gas price is down two cents from last week ($3.52), averaging $3.50 per gallon. Today’s price is the same as a month ago ($3.50), and $1.22 lower than July 10, 2022 ($4.72). Rhode Island’s average gas price is 4 cent lower than the national average.
According to the Energy Information Administration, this year’s July 4 gasoline demand was at the highest level since October, 2021 and slightly above than the same week last year. The expectation of a cooling economy and higher interest rates in the coming months, however, could weaken demand through the rest of the summer driving season.
“The strong demand we saw over the Fourth of July hasn’t fully continued, and may have peaked for the season,” said Diana Gugliotta, Director of Public Affairs for AAA Northeast.
AAA Northeast’s July 10 survey of fuel prices found the current national average to be one cent higher than last week ($3.53), averaging $3.54 a gallon. Today’s national average price is four cents lower than a month ago ($3.58), and is $1.14 lower than this day last year ($4.68).
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