Rhode Island’s average gas price is up three cents from last week ($3.74), averaging $3.77 per gallon. Today’s price is .26 cents higher than a month ago ($3.51), and .42 cents lower than Aug. 7, 2022 ($4.19). Rhode Island’s average gas price is nine cents lower than the national average.
Although the pace of price increases has eased, crude oil prices closed higher for an 11th straight week to end the week last week and gasoline demand spiked to levels not seen since the Independence Day holiday.
“We appear to be at a fork in the road when it comes to which direction gas prices will take – up or down,” said Mark Schieldrop, AAA Northeast Public Affairs Specialist. “The summer heat that kept people home and suppressed refinery production has eased for now, so we have to look at the cost of oil to determine if the recent price climb is ending. More expensive oil will likely lead to higher prices, so stay tuned.”
AAA Northeast’s Aug. 15 survey of fuel prices found the current national average to be .04 cents higher than last week ($3.82), averaging $3.86 a gallon. Today’s national average price is .30 cents higher than a month ago ($3.56) and is .09 cents lower than this day last year ($3.95).
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