For 53 days, Connecticut average prices for a gallon of self-serve regular hovered below $2, dropping as low as $1.91, says AAA Northeast.
Over this past weekend, however, the Connecticut average broke the $2 mark and today, the state’s average is $2.01, a nickel higher than last week, but 89 cents lower than this time last year.
A similar situation is playing out on the national level. The national average dipped below $2 for 66 days, dropping as low as $1.76 at one point. But today’s national average of $2.03 is also a nickel higher than last week, but 73 cents lower than last year.
“We haven’t seen prices this low in early June since 2004,” said Fran Mayko, AAA Northeast spokeswoman. “As crude oil prices trend higher and gasoline demand increases, Americans will see gas prices increase, even though they’ll be much cheaper this summer compared to last.”
As states ease their Covid-19 restrictions, demand continues to rise. Also contributing to price increases are higher crude oil prices and OPEC’s announcement to extend its production agreement into July, which will reduce global supplies by 10%, Mayko said.
One wild card in the mix is Tropical Depression Cristobal. Prices may be affected when the storm makes landfall in Louisiana. Approximately one-third of the crude oil and natural gas production facilities in the Gulf of Mexico are shuttered until Cristobal passes.
“Only time will tell what the impact on domestic crude prices will be,” said Mayko. “And that’ll depend upon how long production remains offline and how much damage the storm causes.”
Here is AAA’s weekly price survey of Connecticut’s six metro regions:
Greater Bridgeport $2.13 Lower Fairfield County: $2.12
New Haven/Meriden $1.98 Greater Hartford $1.99
New London/Norwich $1.98 Windham/Middlesex $2.00
Statewide Average: $2.01
Today, Mississippi registers the lowest average per-gallon prices in the nation at $1.66, followed by Texas and Louisiana, both at $1.70. Hawaii and California continue to hold the highest prices in the nation with $3.18 and $2.95, respectively. Connecticut moved to the 21st spot on the list of states with the highest gas prices in the nation. Average gas prices may be obtained daily through wsww.gasprices.aaa.com