Rhode Island Gas Prices Surge 18 Cents In A Week

PROVIDENCE, RI — It was another week of double-digit increases in gas prices in Rhode Island this week, with the average price per gallon climbing an eye-watering 18 cents since last Monday.

As the international market struggles to course-correct from the turmoil caused by the Russian invasion of Ukraine, some relief may be on the horizon, AAA Northeast predicted. Shortly after the invasion, barrels of oil peaked at $123 per gallon, before slowly falling back below $110.

"It bears reminding that the cost of oil accounts for about 50 percent of what drivers pay at the pump," said Lloyd Albert, a spokesperson for AAA Northeast. "This war is roiling an already tight global oil market and making it hard to determine if we are near a peak for pump prices, or if they keep grinding higher. It all depends on the direction of oil prices."

The average price per gallon in Rhode Island is now $4.35 per gallon, 87 cents higher than this time last month and $1.59 more than March 14, 2021.

While the national average rose by 26 cents in the past week, it's currently three cents lower than Rhode Island at $4.32 per gallon. Massachusetts has the same average price per gallon as Rhode Island, while Connecticut is more than ten cents per gallon higher at $4.46.