NEWS

Demand pushes prices up at gas pump

Posted 2/7/24

Gas demand rose last week, helping to push pump prices upward locally and nationally despite a drop in oil prices.

The average gas price in Rhode Island is 5 cents higher than last week,  …

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NEWS

Demand pushes prices up at gas pump

Posted

Gas demand rose last week, helping to push pump prices upward locally and nationally despite a drop in oil prices.

The average gas price in Rhode Island is 5 cents higher than last week,  averaging $3.09 per gallon. Monday’s price was 3 cents higher than a month ago and 31 cents lower than Feb. 5, 2023. Rhode Island’s average gas price is 5 cents lower than the national average.

 “We are in that time of year when pump prices begin to heat up, usually peaking around July,” said Mary Maguire, Vice President of Public and Government Affairs for AAA Northeast. “But unless there’s a shock to the global oil market that causes prices to spike, the national average for a gallon of gas will probably stagger higher, with some flat days or even small price dips along the way.”

 AAA Northeast’s Feb. 5 survey of fuel prices found the current national average to be 4 cents higher than last week , averaging $3.14 a gallon. Monday’s national average price was 6 cents higher than a month ago  and is 33 cents lower than this day last year .

AAA, gas, fuel

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