RI Gas Prices Fall 7 Cents In A Week, Remain Above $4 Per Gallon

Cranston RI

04 April, 2022

2:28 PM

Description

PROVIDENCE, RI — It was another week of good news at the gas pump in Rhode Island. While the average price is still well above $4 per gallon, it fell by seven cents over the past week. The average price per gallon in Rhode Island was $4.13 on Monday, 28 cents higher than this time last month and $1.36 more than April 2021. Rhode Island current sits five cents lower than the national average of $4.18. The decrease came after a drop in oil prices spurred by president Joe Biden's plan to release one million barrels of oil per day from the Strategic Petroleum Reserve. The announcement dropped the price per barrel to about $100, AAA Northeast said. "The upward push on oil prices caused by Russia's war in Ukraine is meeting stronger downward pressure from the planned SPR oil release and increased COVID fears in China," said Lloyd Albert, a spokesperson for the company. "And lower global oil prices are reflected in falling pump prices for consumers in the U.S."