CT, National Gas Prices Shift Into Reverse This Week

Posted on March 2, 2020

Connecticut and national gas price averages shifted into reverse today as cheaper crude and healthy inventories are alleviating gas pains at the pump, says AAA Northeast.

 

In Connecticut today, the statewide average of $2.54 is 2 cents cheaper compared to this time last week, but 2 cents higher than this time last year.

 

Today’s national average of $2.44 is 3 cents lower than last week and a penny lower than last year. In fact national prices haven’t been this cheap since before Thanksgiving last year.

 

Even though huge inventories and cheaper crude are driving lower prices, there are several other factors coming into play on the global market, said Fran Mayko, AAA Northeast spokeswoman. “The spring maintenance season and upcoming switchover to the more expensive summer blends could very well affect gasoline’s downward trend in coming weeks,” she said. “On the other hand, the coronavirus, which is affecting global economic growth and demand will continue to affect prices.”

 

At $45 a barrel, crude prices haven’t been this low since December, 2018.  Until China’s production recovers and the public health perception of the virus changes, crude prices are likely to drop, she added.

 

Here’s AAA’s weekly price survey of Connecticut’s six metro regions:

 

 

Greater Bridgeport                   $2.63              Lower Fairfield County:              $2.61

New Haven/Meriden                $2.51               Greater Hartford                         $2.50

New London/Norwich             $2.53               Windham/Middlesex                   $2.56

 

 Statewide Average:  $2.54

 

Today, Texas and Mississippi register the lowest average per-gallon prices in the nation at $2.13, followed by Louisiana at $2.15. Hawaii and California continue to hold the highest prices in the nation with $3.57 and $3.48s, respectively. Connecticut holds steady at the 13th spot on the list of states with the highest prices in the nation. Average gas prices may be obtained daily through www.gasprices.aaa.com.

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