Oil and gas prices continued their decline this week with regular gas hitting $3.93 per gallon on Thursday, according to AAA. Crude is trading at roughly $91 per barrel. Gas prices have fallen every day for the last nine weeks and crude oil has fallen by 30% in roughly that same period.
Prices could decline further if Iran agrees to the restoration of a 2015 nuclear deal. The deal would, among other things, lift sanctions against Iran’s energy sector, infusing the global oil market with 1 million more barrels of crude a day.
Stacker compiled statistics on gas prices in Providence-Fall River-Warwick (RI only) metro area using data from AAA. Gas prices are current as of Aug. 19, 2022. State gas tax data is from World Population Review. Connecticut and New York have temporarily suspended gas taxes to help consumers while the cost of gas has increased.
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Providence by the numbers
– Gas current price: $4.12
— Rhode Island average: $4.12
— Rhode Island gas tax: $0.35 per gallon (#12 highest among all states)
– Week change: -$0.11 (-2.5%)
– Year change: +$1.05 (+34.3%)
– Historical expensive gas price: $5.02 (6/13/22)
– Diesel current price: $5.19
– Week change: -$0.11 (-2.1%)
– Year change: +$2.04 (+64.5%)
– Historical expensive diesel price: $6.47 (5/18/22)
Metros with the most expensive gas
#1. San Luis Obispo-Atascadero-Paso Robles, CA: $5.70
#2. Lihue (Kauai), HI: $5.67
#3. Kahului, HI: $5.54
Metros with the least expensive gas
#1. McAllen-Edinburg-Mission, TX: $3.13
#2. Laredo, TX: $3.15
#3. Brownsville-Harlingen, TX: $3.15
States with the highest gas tax per gallon
#1. Pennsylvania: $0.59
#2. California: $0.53
#3. Washington: $0.52
States with the lowest gas tax per gallon
#1. Alaska: $0.0895
#2. Hawaii: $0.16
#3. Virginia: $0.162