PROVIDENCE — The average price for a gallon of gas is down 5 cents this week following a decline in crude oil prices nationwide.
A survey conducted through AAA Northeast on Monday found self-serve, regular unleaded gasoline averaging $3.27 per gallon in Rhode Island. The price marks a 14-cent drop over the past month and prices are now 9 cents lower than they were on the same day last year.
The national average for a gallon of gas fell 3 cents since last week to $3.39, the result of oil prices falling into the mid $70s per barrel, nearly $5 cheaper than a week ago.
“The cost for oil accounts for 55% of what we pay at the pump,” said Diana Gugliotta, director of public affairs for AAA Northeast, "so higher or lower oil costs will play a major role in the price we pay when fueling up.”
AAA Northeast’s survey of fuel prices found the current national average to be 5 cents lower than last week at $3.36 per gallon. Today’s national average price is 14 cents lower than a month ago and is 24 cents lower than the same day last year.
— Jason Vallee
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