Providence, R.I., August 24, 2020 — Rhode Island’s average gas price is the same as last week, averaging $2.13 per gallon. Today’s price is 1 cent lower than a month ago ($2.14) and 47 cents cheaper than August 24, 2019 ($2.60). Rhode Island’s average gas price is 5 cents lower than the national average.
“Gasoline supplies hit their lowest level since the pandemic began and demand dipped on the week, down to 8.6 million barrels per day,” said Lloyd Albert, AAA Northeast Senior Vice President of Public and Government Affairs. “These decreases typically lead to cheaper pump prices, but this summer we’ve seen atypical gas price trends.”
This week the market is watching Tropical Storms Marco and Laura. Marco, whose force is decreasing and is expected to be a tropical depression late on Tuesday, is less of a concern. However, Laura is forecasted to move into the southeastern Gulf of Mexico and become a hurricane by early Tuesday.
According to the U.S. Department of Interior’s Bureau of Safety and Environmental Enforcement, approximately 58 percent, or 1.065 million barrels per day, of crude production in the Gulf of Mexico has been shuttered ahead of the storms and 114 (18%) platforms evacuated.
AAA Northeast’s August 24 survey of fuel prices found the current national average to be 1 cent higher than last week ($2.17), averaging $2.18 a gallon. Today’s national average price is the same as a month ago, and 41 cents cheaper than this day last year ($2.59).
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*Prices as of August 24, 2020
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search average gas prices by Regular, Plus, Premium and Diesel on National and State levels, as well as Metro areas.