standing gas pump

PROVIDENCE — A spike in costs for a gallon of gasoline in early July has started trending the opposite direction, with the average price down by a penny for the second consecutive week.

Gasoline prices in Rhode Island are down one cent this week, according to AAA Northeast. A Monday survey found prices for a gallon of self-serve, regular unleaded averaging $2.73. Rhode Island’s price is the same as the national average for regular unleaded.

A year ago at this time, the average price in Rhode Island was 16 cents higher at $2.89.

“Gasoline stocks remain robust amid a recent dip in demand, which could be one reason we are seeing pump prices stable or starting to roll back,” said Diana Imondi, manager of public affairs and traffic safety for AAA Northeast, in a press release last week.

Prices jumped two cents at the start of July and more than 10 cents over the first three weeks of the month after two months of decline.

The range in prices in the latest AAA survey for unleaded regular is 40 cents, from a low of $2.59 to a high of $2.99.

— Jason Vallee

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