Updated August 1 at 11:45am

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TRANSPORTATION

Gas falls 12 cents in the Ocean State

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PROVIDENCE – Rhode Island’s gasoline price dropped 12 cents this week in the eighth consecutive week of declines, according to AAA Southern New England.

The cost of self-serve, unleaded regular averaged $3.61 per gallon in the Ocean State – 12 cents less than last week and down 37 cents since the peak price seen on April 16 – according to the trade group’s weekly survey of Rhode Island’s pump prices.

AAA recommended consumers shop around for the best deal as the range in prices for unleaded regular in the Ocean State was 30 cents. Rhode Islanders could find regular unleaded priced anywhere from a low of $3.44 to a high of $3.74.

Rhode Island’s price is 6 cents above the $3.55 national average for a gallon of self-pump, regular unleaded.

Prices ranged from $3.83 per gallon for midgrade unleaded to $3.93 for premium and $3.95 for diesel.

A year ago, gas in the Ocean State cost an average $3.83 for a gallon of regular unleaded.

Gas prices in Massachusetts dropped eight more cents over the last week to $3.49 per gallon for unleaded regular, 6 cents less than the national average for self-serve unleaded.

Gas prices in Massachusetts have dropped 41 cents since the April 16 survey. Bay State pump prices ranged from $3.68 per gallon for midgrade unleaded to $3.80 for premium and $3.87 for diesel.

A year ago at this time, the Massachusetts average price for a gallon of regular unleaded gas was $3.72.

aaa, providence, rhode island, massachusetts, gasoline, gas prices, transportation,

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Jim_Donahue

Gasoline futures are at $2.6334, oil at $81 a barrel.

Oil is headed to $20 a barrel as the world economy nears collapse.

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