PROVIDENCE — The cost for a gallon of regular, unleaded gasoline is down week-over-week for the first time since May, but further declines will be dependent on a number of conditions moving forward.
A survey of prices through AAA Northeast on Monday found prices in Rhode Island down a penny this week, averaging $3.03 per gallon. The price remains 4 cents higher than a month ago and 89 cents higher than one year ago.
“For pump prices to push less expensive, OPEC will need to follow through with their production increases, crude will need to sell consistently at lower prices and the market will need to adjust to the potential resurgence of COVID cases,” said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast.
“If these factors prove true consistently, pump prices could be less expensive in August, though the national average could still be at or above the $3 per gallon mark.”
Rhode Island’s average gas price is 12 cents lower than the national average.
AAA's survey of fuel prices found the current national average to be 2 cents lower than last week at $3.15 a gallon. Today’s national average price is 6 cents higher than a month ago and 97 cents higher than on the same day last year.
— Jason Vallee