Rhode Island Gas Prices Jump Up 21 Cents
Monday, April 22, 2024
AAA announced on Monday that week over week, Rhode Island gas prices jumped twenty-one cents a gallon.
"After the switchover to summer blend fuel last week, Northeast gas prices have surged by double digits," announced AAA. "But softening gasoline demand, falling oil prices and growing oil and gas inventories could stave off even more rapid price increases — for the time being.
According to AAA, the average gas price in Rhode Island is up 21 cents from last week ($3.38), averaging $3.59 per gallon.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTMonday's price is 31 cents higher than a month ago ($3.28) and nine cents higher than April 22, 2023 ($3.50). Rhode Island’s average gas price is 8 cents lower than the national average.
“Drivers might be seeing red at the gas pump this week, but there are signs that the pace of price increases could ease,” said Jillian Young, Director of Public Relations, AAA Northeast. “It’s not unusual to see a lull in demand between the end of spring breaks and Memorial Day. Regional gasoline inventories are ahead of last year’s levels – and growing. And oil prices, which had been climbing since the start of the year, fell sharply last week after markets digested the latest developments in the Middle East and lackluster demand figures from China, the world’s largest oil importer.”
AAA Northeast’s April 22 survey of fuel prices found the current national average to be up four cents from last week ($3.63), averaging $3.67 a gallon.
Monday’s national average price is 14 cents higher than a month ago ($3.53), and the same price on this day last year ($3.67).
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