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After Months Of Increase, Gas Prices Start To Fall

Gas prices fell by a penny in Connecticut in the past week.
Gas prices fell by a penny in Connecticut in the past week. Photo Credit: Wikimedia Commons

FAIRFIELD COUNTY, Conn. — After a steady rise, the average price per gallon of gas fell by a penny last week in Connecticut, according to AAA Northeast.

Nationally, gas prices fell an average of three cents per gallon over the past week.

AAA’s weekly survey of prices in Connecticut’s four regional areas as follows:

  • Greater Bridgeport/Stamford $2.56
  • New Haven/Meriden $2.45
  • Greater Hartford $2.45
  • New London/Norwich $2.45
  • Statewide Average: $2.48
South Carolina and Tennessee registered the lowest average prices at $2.11 and $2.13, respectively. Hawaii continues to lead the pack with highest prices in the nation at $3.06 followed by California at $2.81. Connecticut, on the other hand, dropped to 9th place from 11th in terms of the highest state prices in the nation. The Nutmeg State bounced between 10th and 11th place for most of 2016.

Markets continue to react to the recent OPEC oil production agreement as participating countries implement production cuts in an attempt to rebalance the global market. Meanwhile, the U.S increased its drilling activities, which is contributing to increased oil production here.

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