PROVIDENCE – The average cost of a gallon of gasoline has risen five cents in Rhode Island over the past week, due to factors such as rising crude oil prices and a tight supply.
The average cost of a gallon of regular unleaded gasoline climbed to $ 2.17 on Monday, according to AAA Northeast. The rise in costs brings the price to the highest level seen since February.
According to AAA, two factors have helped push up the price at the pump, including a steady rise in the domestic price of crude since November. Prices started to rise last month alongside news about the vaccination and only increased with its availability, the company said.
“The recent gasoline price pump jumps are a bit surprising given that December demand figures are the lowest for the month since 1999,” said Lloyd Albert, senior vice president of business public and governmental for AAA North East. “The increases are likely to be short-lived, especially as car travel is expected to drop by at least 25%.”
The latest price is 10 cents higher than a month ago, but still 35 cents cheaper than December 21. The average price of gas in Rhode Island also remains 5 cents lower than the national average.
– Jason Vallée