Rhode Island’s average gas price is down 13 cents from last week, averaging $3.43 per gallon. Monday’s price is 57 cents lower than a month ago and 35 cents higher than September 26, 2021. Rhode Island’s average gas price is 29 cents lower than the national average.
While prices locally continue to fall, some parts of the country are seeing increases. Low domestic demand as fewer drivers fuel up and much lower oil prices have helped to blunt some of the impact. On Friday, the price of oil slipped below $80 a barrel for the first time since January, primarily due to fears of a recession-led global economic slowdown.
“Slack demand and lower oil prices should take some pressure off rising gas prices,” said Lloyd Albert, Senior Vice President of Government and Public Affairs for AAA Northeast. "But Hurricane Ian could cause problems, depending on the storm’s track, by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries.”
AAA Northeast’s September 26 survey of fuel prices found the current national average to be 5 cents higher than last week , averaging $3.72 a gallon. Monday’s national average price is 14 cents lower than a month ago, and 54 cents higher than this day last year.