With gas prices reaching a five-year peak in Connecticut over the Memorial Day holiday, motorists in Connecticut have seen the slightest dip in prices at the pump.
After nearly four months of raising prices, Connecticut’s average price per gallon of regular self-serve gas has dropped two cents in a week, down to $3.13, while the national average is down to $2.91, down three cents from a week ago.
In Connecticut, AAA’s weekly survey of gas prices found that the average price per gallon in the Nutmeg State’s six regions are:
- Bridgeport: $3.21;
- Hartford: $3.10;
- Lower Faifield County: $3.19;
- New Haven/Meriden: $3.11;
- New London/Norwich: $3.15;
- Windham/Middlesex: $3.12.
Despite the modest decrease, prices nationally are still up nearly 60 cents from a year ago, when the average price per gallon was $2.34. In Connecticut, the price is up 64 cents from a year ago. On the week, only eight states saw prices increase while all others dropped by as much as 13 cents or remained stable.
“Gas prices continue to dip across the country, but remain nearly 50-cents more expensive than last summer in every state,” Jeanette Casselano, AAA gas price expert stated. “The higher prices seem to be influencing driving habits. While consumer gasoline demand remains strong, it is slowing and not growing.”
Officials said that “in the coming weeks, prices may be affected further by OPEC’s possible decision to lift supply limits under a 2017 agreement with its partners. That agreement, an attempt to balance the global market, expires at year’s end. However, cartel members may decide to lift those limits before the agreement expires.”
“The higher prices in recent weeks seem to be influencing driving habits,” Fran Mayko, AAA Northeast spokesman noted. While consumer gasoline demand remains strong, it’s slowing and not growing.”
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