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June 23, 2008

R.I. gas prices slip a penny

Gasoline prices in Rhode Island slipped a penny in the last week to average $4.10 a gallon, the first decline since late March, according to a AAA Southern New England survey released today.

Prices had previously risen for 12 straight weeks, by a total of 93 cents, before the one cent slippage. A year ago, the average price of regular unleaded was $2.94 a gallon.

In Massachusetts, the average price of unleaded regular gasoline was $4.07 a gallon, the same price as the prior week and $1.10 more than a week ago.

Nationwide, the average price of regular gasoline at U.S. filling stations rose to $4.10 a gallon, an industry survey showed.

The price climbed 10 cents on June 20 from two weeks earlier, according to oil-industry analyst Trilby Lundberg’s survey of 7,000 filling stations nationwide.

AAA, the nation’s biggest motoring club, said yesterday that regular gasoline at the pump reached $4.073 a gallon, up 36 percent from $2.985 a year earlier.

Gasoline prices have risen as inventories dropped more than 11 percent since March 7 to 208.9 million barrels, the Energy Department said June 18.

Posted by John Kostrzewa  at 11:29 AM | Permalink

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