PROVIDENCE, R.I. (WPRI) — The cost of gasoline in Rhode Island has reached yet another record high.
The price for a gallon of regular gas is now averaging $5, AAA Northeast announced Thursday.
Rhode Island joins Massachusetts, which reached the $5 mark a few days ago and now has an average of $5.02 per gallon.
Earlier this week, AAA reported the cost of a barrel of oil is nearing $120, almost double what it was last August, as increased demand outpaces the tight global supply. Meanwhile, domestic gasoline demand rose last week due to Memorial Day weekend travel, AAA noted.
As a result, AAA says the national average price of gasoline has risen to an average of $4.97 per gallon.
GasBuddy, however, reported Thursday that the national average hit $5 per gallon.
According to AAA, Massachusetts ranks #17 for the most expensive gas in the country and Rhode Island is not far behind at #21.
Those living in California, Nevada and Hawaii are paying the most at the pump, but California has the highest average price at $6.40 per gallon.