The declines in retail pump prices came even as oil and gas markets moved higher last week after the U.S. announced a fresh round of U.S. sanctions against the Russian petroleum industry. Crude prices finished the week about $4 a barrel higher on concerns that global petroleum supply could be impacted by the sanctions, which target two of Russia’s largest oil companies.
Even with the spike in crude prices, oil is still considered inexpensive by recent historical standards, trading in the low $60 a barrel range. Before the recent spike, prices dipped to a low of $57 a barrel on Oct. 16, which marked the lowest price for crude since February of 2021.
Turning to domestic supply and demand, both declined last week, according to the Energy Information Administration (EIA). Even with production climbing 134,000 barrels a day to 9.61 million barrels a day, domestic inventories of gasoline fell 2.1 million barrels to 216.7 million barrels, which is roughly 3 million above last year’s figure. Demand slipped a negligible 2,000 barrels a day to 8.45 million barrels a day—380,000 barrels a day below the comparable week in 2024.
“Even with a surge in oil prices, crude prices are about $10 lower than they were this time last year,” said Mark Schieldrop, senior spokesperson for AAA Northeast. “Right now, pump prices are trending down on expectations for softer demand typically seen this time of year.”
AAA Northeast’s Oct. 29 survey of fuel prices found the current national average down 3 cents from last week ($3.06), averaging $3.03 per gallon. Today’s national average price is 10 cents lower than a month ago ($3.13) and 10 cents lower than this day last year ($3.13).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Massachusetts | $2.99 | $2.99 | $3.08 | $3.06 |
| Rhode Island | $2.92 | $2.93 | $3.06 | $2.97 |
| Connecticut | $3.03 | $3.04 | $3.14 | $3.07 |
| New York | $3.11 | $3.12 | $3.20 | $3.20 |
| New Jersey | $2.94 | $2.96 | $3.09 | $2.95 |
*Prices as of Oct. 29, 2025
Today, Oklahoma and Mississippi have the lowest prices in the nation at $2.59 each. California and Hawaii hold the highest prices in the nation this week at $4.57 and $4.48 respectively.
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search for average gas prices on national, state and metro levels by regular, plus, premium and diesel.
Mark Schieldrop is a senior spokesperson for AAA Northeast. Based in Rhode Island, Mark is regularly interviewed on topics ranging from travel to traffic safety and is also a certified child passenger safety technician.
