RI Gas Prices Down 30 Cents From Last Month

RI Gas Prices Down 30 Cents From Last Month

Rhode Island’s average gas price is down 10 cents from last week ($4.81), averaging $4.71 per gallon, AAA announced on Monday.

Monday's price is 30 cents lower than a month ago ($5.01), and $1.68 higher than July 11, 2021 ($3.03). Rhode Island’s average gas price is 4 cents higher than the national average.

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The decrease in the average for a gallon of gas occurred despite a slight rise in demand, likely due to robust July 4th holiday automobile travel, according to AAA, who forecasted that 42 million people would hit the roads for the holiday weekend, a new record.

“Usually, more people buying gas would lead to higher pump prices,” said Lloyd Albert, Senior Vice President of Government and Public Affairs for AAA Northeast. “But the price for oil, the main ingredient in gasoline, has fallen and is hovering around $100 a barrel. Less expensive oil usually means less expensive gas.” 

AAA Northeast’s July 11 survey of fuel prices found the current national average to be 13 cents lower than last week ($4.80), averaging $4.67 a gallon.

Monday's national average price is 33 cents lower than a month ago ($5.00), and $1.53 higher than this day last year ($3.14).