As crude oil prices reach yearly highs, gasoline prices are climbing in Rhode Island despite a seasonal decline in demand and plentiful gas inventories here in the Northeast.
Rhode Island’s average gas price is up five cents from last week ($3.73), averaging $3.78 per gallon. Today’s price is two cents higher than a month ago ($3.76), and 21 cents higher than Sept. 18, 2022 ($3.57). Rhode Island’s average gas price is 10 cents lower than the national average.
“The seasonal slide in gas prices we normally see this time of year hasn’t materialized because crude oil prices are above $90 a barrel and could rise further,” said Mark Schieldrop, Senior Spokesperson for AAA Northeast. “Meanwhile, adding to the local price pressures are overlapping fall maintenance schedules for two refineries critical for the U.S. Northeast market. Major work at Irving Oil’s refinery in Saint John, New Brunswick; and Monroe Energy’s facility in Trainer, Pa., began this week and will continue through November. It’s unusual for two refineries of this size to have simultaneous extended downtime.”
AAA Northeast’s Sept. 18 survey of fuel prices found the current national average to be five cents higher than last week ($3.83), averaging $3.88 a gallon. Today’s national average price is one cent higher than a month ago ($3.87) and is 21 cents higher than this day last year ($3.67).
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