Rhode Island’s average gas price is up thirteen cents from last week,  averaging $3.66 per gallon. Monday’s price is .15 cents higher than a month ago, and .76 cents lower than July 31, 2022. Rhode Island’s average gas price is nine cents lower than the national average.

 The national average for a gallon of gas awoke from a months-long slumber, surging 16 cents since last week to $3.75. The primary cause appears to be the price of oil, which has marched nearly $4 higher in the past few days to pass $80 per barrel. As oil accounts for almost 50 percent of the cost of a gallon of gas, higher oil prices usually mean higher pump prices.   

 “Gas demand, meaning people fueling up, remains tepid. It’s lower now than at this time last year and in 2021,” said Diana Gugliotta, Director of Public Affairs for AAA Northeast. “But while the heat may be keeping some folks home, it also suppresses refinery production, according to experts. Constrained supplies and a higher cost of oil are tipping the balance toward rising pump prices for now.” 

 AAA Northeast’s July 31 survey of fuel prices found the current national average to be 16 cents higher than last week averaging $3.75 a gallon. Monday’s national average price was .21 cents higher than a month ago , and is .47 cents lower than this day last year.