NEWS

RI gas prices nearly half those on West Coast

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Rhode Island’s average gas price is down 11 cents from last week,, averaging $3.32 per gallon. Monday’s price was 51 cents lower than a month ago, and 24 cents higher than October 3, 2021. Rhode Island’s average gas price is 47 cents lower than the national average.

                                                               

“The regional differences in gas prices are stark at the moment, with prices here in the East still falling, prices on the West Coast hitting $6 a gallon and higher, while Texas and Gulf Coast states have prices dipping below $3 in some areas,” said Diana Gugliotta, Director of Public Affairs for AAA Northeast. “At least six California refineries are undergoing maintenance, and there is limited pipeline supply to the West Coast from locations east of the Rockies. Reports have emerged that the Organization of the Petroleum Exporting Countries (OPEC) and its allies—including Russia—known as OPEC+ intend to announce collective oil production cuts at their next meeting on October 5 in Vienna. If OPEC+ reduces production, crude prices could rise this week.”

AAA Northeast’s October 3 survey of fuel prices found the current national average to be 7 cents higher than last week, averaging $3.79 a gallon. Monday’s national average price is the same as a month ago, and 60 cents higher than this day last year.

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