standing gas pump

PROVIDENCE — Gas prices in Rhode Island have climbed 56 cents since mid-February, but a modest increase this week has some hopeful that the spike may be reaching an end.

According to a survey through AAA Northeast on Monday, self-serve, regular unleaded averaging $2.86 per gallon. The price represents a three cent increase over the past week, compared to a 13 cent increase the week before.

“While fuel demand remains robust, gasoline inventories built for the first time since early February and contributed to more modest increases than we saw the week before when prices were up double digits,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast.

Rhode Island’s price is three cents lower than the national average for regular unleaded of $2.89. A year ago at this time, the average price in Rhode Island was one cent lower at $2.85.

The range in prices in the latest AAA survey for unleaded regular is 30 cents, from a low of $2.69 to a high of $2.99.

— Jason Vallee

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