PROVIDENCE, R.I. (WPRI) — The price of a gallon of gas in Rhode Island jumped $0.07 this week and it went up $0.08 in Massachusetts, but experts are predicting that prices this summer will be the lowest in more than a decade.
Gas prices have been trending upward as of late, but we’re paying a lot less at the pump compared to this time last year.
“There’s plenty of supply and prices right now are anywhere from 30-40 cents cheaper than they were a year ago,” said David Raposa of AAA Southern New England.
The U.S. Energy Information Administration (EIA) is predicting drivers will pay the lowest summer gas prices since 2004. The agency estimates the average household will spend $900 less on gasoline this year compared to two years ago.
Raposa expects the lower prices will fuel more summer travel.
“When you sit down, you budget your vacation, you know what a tank of gas is going to cost you,” he added. “And if you’re saving $10 or $15 every fill-up, well that’s an extra pizza or that’s an extra trip to an attraction. That’s money in your pocket.”
The EIA expects the average price of a gallon of gasoline this summer will be $2.21.