EAST PROVIDENCE, R.I. (WPRI) — If you’re hoping to enjoy a lobster dinner in Boston this summer, you may end up spending more than usual.
According to a report by The Boston Globe, the price per pound for lobster is nearly double last year’s price.
The impact of these numbers has been mixed so far in Rhode Island.
Hal Melo, owner of the Atlantic Fish Market in East Providence, said his lobster supply is almost gone, with his tanks almost completely empty.
“I usually have the whole group covered in lobsters, but not this time,” Melo said Monday.
Lobster prices are up because of bad weather and increased demand in Asia, according to Melo. He said the prices in Galilee shocked him this past weekend, so he chose not to buy any.
Melo said lobster there was selling for $13 per pound, which is the highest he has ever seen.
Upon returning from setting traps in Newport, John Walker said he sold lobsters to his distributor Monday for more than $8 per pound. He said that’s the highest he has seen since last year.
“I think the retail end of things is really high right now, but not so much for us on the wholesale end coming off the boat,” Walker explained.
Eyewitness News decided to check with local restaurants to see if the high prices are having an impact.
Steve Boreen, the owner of Benjamin’s in Newport, said prices are going up, but they don’t plan to increase the prices on their menu.
“In Newport it’s staying the same, but in other places I’m not so sure,” Boreen said.
Walker said his prices will drop as soon as more of his colleagues start to join him in setting traps. He said if last year’s trends hold true, he expects to make just $4.50 per pound next month as opposed to the $8.50 he made this past weekend.
