Projo Biz Blog

Prices for regular gasoline in Rhode Island dropped another 15 cents a gallon in the last week, according to a survey released today by the state Energy Office.

The report set the average price at $3.33 a gallon. Prices are now down 79 cents from the peak of $4.12 on June 16. The state Energy Office said the prices ranged from $3.22 a gallon to $3.40 a gallon.

A separate report from AAA Southern New England also set the price at $3.33 a gallon.

Rhode Island is currently 18 cents below the national average of $3.50 a gallon. A year ago at this time, the average price of regular unleaded gasoline was $2.70 a gallon.

The lower prices or due to the economic slowdown worldwide that has cut the price of oil below $90 a barrel. This morning, crude oil fell for a fourth day, dropping as much as 5.3 percent to $88.89 a barrel.

The report by the state Energy Office said the price of diesel fuel was $4.07 a gallon while the average retail price of home heating oil was $3.65, down 11 cents from a week ago.

---