Rhode Island Gas Prices Rise Amid Global Oil Supply Concerns
According to AAA Northeast's latest survey of fuel prices, the average gas price in Rhode Island has risen by 10 cents from last week to $4.04 per gallon.
This increase brings the state's average gas price to a level that is 5 cents lower than the national average, which currently stands at $4.09 per gallon.
The higher prices are attributed to ongoing concerns about global oil supplies due to the effective closure of the Strait of Hormuz and the tensions between the United States and Iran.
As a result, crude prices have risen by around 6% over the past week, with West Texas Intermediate (WTI) ending the week above $85 and Brent settling above $94.