Rhode Island Gas Prices Rise Ahead of Memorial Day Weekend

News Summary

Gas prices in Rhode Island have increased to an average of $3.00 per gallon ahead of Memorial Day weekend. This marks a 5-cent rise from last week and a more significant increase compared to last month. Despite the rise, prices remain lower than the national average of $3.17 per gallon. Factors such as tariffs on imports and seasonal changes are contributing to the increase. Consumers are advised to compare prices to find the best deals as summer approaches.

Rhode Island has seen a rise in gas prices ahead of the Memorial Day weekend, with the average price per gallon now at $3.00. This marks an increase of 5 cents compared to last week. The price is 6 cents higher than it was a month ago when gas averaged $2.94, but it is 57 cents lower than the same time last year, when prices were at $3.57.

Despite the recent increase, Rhode Island’s gas prices remain 17 cents lower than the national average, which now stands at $3.17 per gallon. The national average has risen by 4 cents from last week and is 42 cents lower than last year’s prices of $3.59.

At the lower end of the spectrum, Mississippi and Tennessee boast the cheapest gas prices in the country, at $2.66 and $2.72, respectively. In contrast, California and Hawaii have the highest prices, currently at $4.91 and $4.48 per gallon, respectively. Rhode Island ranks 25th for the lowest gas prices in the United States.

Factors Contributing to Price Increase

The recent increase in gas prices in Rhode Island can be attributed to several factors. A recent 10% tariff imposed by President Trump on gasoline and diesel imports from Canada is expected to drive prices higher. Analyst Patrick De Haan from GasBuddy has predicted that prices in Rhode Island could soon surpass $3 per gallon as a consequence of these tariffs. He estimated that in the coming weeks, average prices could rise by 20 to 40 cents per gallon.

In addition to tariffs, the price increase is influenced by refinery maintenance and the transition to summer gasoline. These seasonal changes often bring about fluctuations in fuel pricing, and this year seems to be no different.

Current Prices Around the State

Specific data from various locations in Rhode Island indicates that the average gas price in Providence is currently at $2.95 per gallon, which is a slight decrease of 2 cents from the previous week before the tariff announcement. This indicates that while there is an overarching trend of rising prices, individual circumstances can lead to varied rates across different areas.

Consumer Advice

In light of the rising gas prices, consumers are encouraged to shop around for the best deals. Various apps and services can help track gas prices across different locations, allowing motorists to save money by finding the lowest available prices in their area.

Long-Term Outlook

The long-term impact of these tariffs on gas prices remains uncertain. If the tariffs are lifted quickly, the effect on long-term prices is expected to be minimal. However, sustained tariffs could lead to more significant and lasting impacts on the cost of gasoline in Rhode Island and beyond.

As Memorial Day approaches, consumers in Rhode Island and across the country may want to pay careful attention to gas prices, especially considering the seasonal patterns and economic factors that tend to influence costs during the summer months.

Deeper Dive: News & Info About This Topic

• Providence Journal: RI Must Diversify Its Energy Sources
• ABC6: Gas Prices Expected to Rise in New England
• PBN: RI Gas Prices Hit $3 Per Gallon
• The Westerly Sun: AAA Average Rhode Island Gas Price
• Wikipedia: Gasoline
• Google Search: Gas prices Rhode Island