Prices Still High, But RI Sees Some Relief At The Gas Pump

PROVIDENCE, RI — Although gas prices remain at historic highs, Rhode Islanders are stating to see some relief at the pump. Over the past week, the average price fell by two cents, bringing the average down to $4.20 per gallon.

The current average is still 61 cents higher than this time last month and $1.42 more than this time last year.

As oil prices hold around $110 per barrel, the drop in gas prices has slowed, AAA Northeast said. With prices at historic highs in Rhode Island and around the country, demand has fallen for the second week in a row, the agency said, going against seasonal trends.

"The global oil market reflects the volatility caused by the ongoing conflict in Ukraine and resurgent Covid concerns in Asia," said Lloyd Albert, a spokesperson for AAA Northeast. "Although the national price of gasoline has moderated over the past three weeks, elevated prices will likely be the norm as we approach peak demand later this spring."