RI Gas Prices Jump 31 Cents This Week

RI Gas Prices Jump 31 Cents This Week

Northeast gasoline prices are surging as oil prices march upward and global supply disruptions worsen as the U.S. war with Iran enters its 10th week.

Rhode Island ranks 21st on the list of states with the highest gas prices in the nation. A gallon of gas is now $4.39 in RI.

According to AAA Northeast, crude oil and refined product prices climbed sharply last week, reaching multi-year highs after the U.S. initiated a blockade of the Strait of Hormuz. Domestically produced West Texas Intermediate (WTI) ended the week $7.54 higher and Brent crude rose $2.84 as markets digested the latest updates about the potential for future peace talks and the eventual reopening of the strait. Before the war, anywhere from 125 to 140 oil tankers passed through the straight. Between May 1 and 3, just seven completed the passage, according to the Hormuz Strait Monitor.

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Despite surging gasoline prices, Americans are consuming more gasoline than they did last spring. Demand reached 9.1 million barrels a day last week, an increase of 49,000 barrels a day over the prior week, according to the EIA. Over the past four weeks, demand has averaged 103,000 barrels a day higher than the comparable weeks of 2025.

“All the factors that drive the cost of gasoline have been heading toward higher prices,” said Jillian Young, director of public relations for AAA Northeast. “Along with higher oil prices, gasoline demand has held strong and U.S. exports are shattering records, leading to tighter inventories. Oil and gas markets will remain volatile amid ongoing uncertainty about a potential end to the war and resumption of vessel traffic through the Strait of Hormuz.”

The average gas price in Rhode Island is up 31 cents from last week ($4.08), averaging $4.39 per gallon. Today’s price is 43 cents higher than a month ago ($3.96) and $1.43 higher than this day last year ($2.96). Rhode Island’s average gas price is 6 cents lower than the national average.

AAA Northeast’s May 4 survey of fuel prices found the current national average up 34 cents from last week($4.11), averaging $4.45 per gallon. Today’s national average price is 35 cents higher than a month ago ($4.10) and $1.29 higher than this day last year ($3.16).

 

Region	Current Price*	One Week Ago	One Month Ago	One Year Ago
Massachusetts	$4.35	$4.04	$3.91	$2.98
Rhode Island	$4.39	$4.08	$3.96	$2.96
Connecticut	$4.52	$4.21	$4.06	$3.07

*Prices as of May 4, 2026

 

Georgia and Oklahoma have the lowest prices in the nation at $3.85 and $3.88, respectively. California and Washington hold the highest prices in the nation this week at $6.11 and $5.67, respectively. Rhode Island holds the 21st place on the list of highest gas prices in the nation.