RI Gas Prices Reach Historic Highs, Top $4 Per Gallon

PROVIDENCE, RI — Rhode Island's gas prices reached historic heights this week, climbing an eye-watering 58 cents per gallon in just one week. Monday's average price of $4.17 per gallon is the highest on record in the state, ever, according to AAA Northeast.

AAA Northeast said the meteoric rise is due to "extraordinary volatility" in the international oil market caused by the Russian invasion of Ukraine, and the threats of sanctions from NATO and the U.S. as a result.

"As that issue continues to be debated today, the market will see significant upward pressure on petroleum-related commodities," said Lloyd Albert, a spokesperson for the company. "The 45-cent increase in gas prices here in the U.S. over the past 7 days amounts to the single largest increase since AAA has tracked domestic gas prices. The negative impact of these explosive prices on American consumers will only increase in the near term."

Rhode Island's current average price is 32 cents higher than Friday. It's 74 cents higher than this time last month, and $1.48 than last year. The national average is 11 cents lower than Rhode Island's at $4.06 per gallon, the highest since July 2008.