RI Gas Prices Surge, High Summer Prices Coming

PROVIDENCE, RI — As Memorial Day weekend approaches and gas shortages are reported in parts of the country, prices continue their weekly climb in Rhode Island.

The average price for a gallon of regular, unleaded gas went up 5 cents over the past week, following another 5-cent rise the week before. That brings that average price per gallon to $2.93.

The current average price per gallon is 17 cents higher than this time last month, and 99 cents higher than this time last year. Although gas prices saw a major drop-off last year due to the coronavirus pandemic, these are the highest prices reported since 2014, according to AAA Northeast.

"This is going to be an expensive summer for motorists," said Lloyd Albert, a spokesperson for the company. "However, we do not expect it to deter travelers from hitting the road. AAA finds that despite the higher pump prices, Americans still take their road trips but just may not travel as far as originally planned or go to their planned destination and spend a little less."

The national cost for a gallon of gas passed the three-dollar mark, averaging $3.04; 11 cents higher than Rhode Island. Next-door neighbor Massachusetts rang in at $2.91, on average, while Connecticut was higher than the national average at $3.06.

Last week, reports of gas shortages caused a panic-fueled surge in demand in the southeast. The shortages came after the Colonial Pipeline., which provides nearly half of the gas supplies to the region, was shut down last week following a cyberattack.