Gas demand lower, but pump prices higher

Rhode Island’s average gas price is up two cents from last week, averaging $3.53 per gallon. Monday’s price was one cent higher than a month ago , and .96 cents lower than July 24, 2022. Rhode Island’s average gas price is six cents lower than the national average.

“Gas demand has fallen nearly 10 percent since the holiday, as folks have returned to their day-to-day driving routines,” said Diana Gugliotta, AAA Northeast’s Director of Public Affairs. “Typically, this would lower gas prices, but such a move is being countered for now by the increasing cost for oil, the main ingredient in gasoline.”

AAA Northeast’s July 24 survey of fuel prices found the current national average to be three cents higher than last week, averaging $3.59 a gallon. Monday’s national average price is two cents higher than a month ago , and is .77 cents lower than this day last year.