Rhode Island’s average gas price is up seven cents from last week ($3.66), averaging $3.73 per gallon. Today’s price is .22 cents higher than a month ago ($3.51), and .57 cents lower than Aug. 7, 2022 ($4.30). Rhode Island’s average gas price is nine cents lower than the national average.
The recent surge in gas prices is largely being driven by more optimism about the economy and higher oil prices, which increased last week for the sixth week in a row as OPEC+ production cuts take hold and tighten global markets.
“Last month’s extreme heat played a role in the recent spike in gas prices due to some refineries pulling back, but now operations are getting back to normal,” said Mark Schieldrop, Public Affairs Specialist for AAA Northeast. “Coupled with tepid demand and oil prices trending somewhat lower, this may help take the steam out of the tight supply price jolts we’ve seen lately.”
AAA Northeast’s Aug. 7 survey of fuel prices found the current national average to be .07 cents higher than last week ($3.75), averaging $3.82 a gallon. Today’s national average price is .29 cents higher than a month ago ($3.53) and is .24 cents lower than this day last year ($4.06).
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search average gas prices by Regular, Plus, Premium and Diesel on National and State levels, as well as Metro areas.
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