Gas price drop 5 cents, AAA survey finds

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Gasoline prices in Rhode Island are down five cents this week, according to AAA Northeast.

AAA’s June 10 survey of prices in Rhode Island finds self-serve, regular unleaded averaging $2.76 per gallon. Rhode Island’s price is two cents higher than the national average for regular unleaded of $2.74. A year ago at this time, the average price in Rhode Island was nineteen cents higher at $2.95.

“Refinery utilization in the United States is at its highest level since early January, resulting in supplies at healthy levels to meet robust consumer demand,” said Lloyd Albert, AAA Northeast Senior Vice President of Public and Government Affairs. “Prices are dropping due to cheaper crude oil and at the same time U.S. supply is keeping pace with demand. The national average is poised to fall to at least $2.70 this week – an indication that pump prices may be even cheaper this summer.”

The range in prices in the latest AAA survey for unleaded regular is 35 cents, from a low of $2.54 to a high of $2.89.

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