PROVIDENCE — Motorists will be happy to know that despite record traffic over the Fourth of July holiday weekend and powerful hurricanes that slammed into the Gulf Coast, auto prices remained largely steady.
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PROVIDENCE — Motorists will be happy to know that despite record traffic over the Fourth of July holiday weekend and powerful hurricanes that slammed into the Gulf Coast, auto prices remained largely steady.
The average price of gasoline in Rhode Island is the same as last week, averaging $3.47 per gallon. Today’s price is 6 cents higher than a month ago and 4 cents lower than the same day last year.
“Strong production and limited impacts from Hurricane Beryl have eased pressure on gasoline prices as the summer driving season gets underway,” said Gillian Young, director of public affairs for AAA Northeast. “Northeast gasoline inventories fell by more than 500,000 barrels last week, but supplies remain above year-ago levels.”
Hurricane Beryl made landfall off the Texas coast last week, causing widespread damage and power outages but limited disruption to major refineries and shipping ports, as well as its impact on gasoline prices.
Gasoline demand fell slightly to 9.39 million barrels per day from 9.42 million barrels per day, according to the latest data from the Energy Information Administration (EIA) for the week ended July 5, as refinery utilization, a measure of how much refining capacity is being used to make gasoline, tied its highest level in 2024 and fell to the fourth-highest level on record.
The average gasoline price in Rhode Island is 5 cents lower than the national average. The current national average is up 2 cents from last week, averaging $3.52 per gallon, according to a fuel price survey conducted Monday by AAA Northeast. Today’s national average price is 7 cents higher than a month ago and 4 cents lower than the same day last year.
