NEWS

Gas prices up $1.05 from a year ago

Posted 10/13/21

Rhode Island's average gas price is up nine cents from last week, averaging $3.18 per gallon. Tuesday's price is 11 cents higher than a month ago, and $1.05 higher than October 12, 2020. Rhode Island's average gas price is nine cents lower than the

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NEWS

Gas prices up $1.05 from a year ago

Posted

Rhode Island’s average gas price is up nine cents from last week, averaging $3.18 per gallon. Tuesday’s price is 11 cents higher than a month ago, and $1.05 higher than October 12, 2020. Rhode Island’s average gas price is nine cents lower than the national average. 

“The key driver for this recent rise in the price of gas is crude oil, which typically accounts for between 50% and 60% of the price at the pump,” said Lloyd Albert, Senior Vice President of Public and Government Affairs for AAA Northeast. “And last week’s decision by OPEC and its oil-producing allies to not increase production further also helped boost gas prices by tightening the supply.”

 AAA Northeast’s October 12 survey of fuel prices found the current national average to be 7 cents higher than last week, averaging $3.27 a gallon. Tuesday’s national average price is 10 cents higher than a month ago, and $1.09 higher than this day last year.

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