PROVIDENCE — Northeast pump prices are currently up on tightening gasoline supplies and pricier summer blend fuel reaching retailers. While prices are following typical seasonal trends for now, global market reactions to the Trump administration’s tariffs announced last week could potentially slow the seasonal price climb as crude oil prices fall.
By the close of markets on Friday, crude oil prices had fallen roughly $10 a barrel, reaching levels not seen in four years as markets reacted to the tariff announcement on Thursday.
Locally, the average gas price in Rhode Island is up 5 cents from last week ($2.95), averaging $3 per gallon. Today’s price is 4 cents higher than a month ago ($2.96) and 33 cents lower than a year ago ($3.33). Rhode Island’s average gas price is 25 cents lower than the national average.
“After market routs last week, wholesale prices for summer blended gasoline are now equivalent to winter blend prices seen in February,” said Jillian Young, director of public relations for AAA Northeast. “If markets continue to sag, it could lead to cheaper gasoline prices, but it will take some time for the lower crude and wholesale gasoline prices to reach retail pumps.”
AAA Northeast’s April 7 survey of fuel prices found the current national average up 9 cents from last week ($3.16), averaging $3.25 gallon. Today’s national average price is 15 cents higher than a month ago ($3.10) and 34 cents lower than this day last year ($3.59).
Mississippi and Oklahoma have the lowest prices in the nation, at $2.75 and $2.78, respectively. California and Hawaii hold the highest prices in the nation this week at $4.95 and $4.49, respectively. Rhode Island holds the 15th place on the list of lowest gas prices in the nation.
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