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May 5, 2008

Gas goes up a penny in R.I., to another record high

Gasoline prices in Rhode Island inched up another penny yesterday to average $3.609 a gallon, setting another record.

A survey of local dealers by the state’s Office of Energy Resources found the prices ranged from $3.549 a gallon to $3.699 a gallon for regular unleaded gas.

In another survey, AAA Southern New England says the price jumped 2 cents this week. That's a lot less that last week, when the price increased 15 cents.

The price of a gallon of gas is up 25 percent from this time last year, when it averaged $2.87 per gallon, according to AAA.

Since March 31, prices have risen sharply by 40 cents a gallon. The price is now 71 cents a gallon higher than a year ago.

Nationally, the average price for regular gasoline rose about 15 cents in the last two weeks, according to the Lundberg Survey of 7,000 stations nationwide.

The average price of self-serve regular gasoline on Friday was $3.62 a gallon. Mid-grade was at $3.74 and premium was $3.85.

Of the cities surveyed, the cheapest price was in Cheyenne, Wyo., where a gallon of regular cost $3.39, on average. The highest average was in San Francisco at $3.95. Across California, the statewide average for a gallon of regular was $3.90, mid-grade was at $4.01 and premium at $4.11.

The state Office of Energy Resources survey also reported that diesel fuel was selling at $4.429 a gallon.

The price of home heating oil averaged $3.989 a gallon, and ranged from a high of $4349 to a low of $3.709 a gallon.

-- Journal business editor John Kostrzewa, with Associated Press reports

Posted by Mike McKinney  at 1:14 PM | Permalink

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