Early November gas prices are the cheapest they’ve been since 2004 because of mounting global Covid concerns and tumbling crude prices, says AAA Northeast.
If this global scenario continues, there’s a good chance the national gas price average will drop below $2 a gallon before year’s end, said Fran Mayko, AAA Northeast spokeswoman.
Today, statewide average prices for a gallon of self-serve regular dropped to $2.15, a penny less than last week and 51 cents lower than last year.
On the National level, average prices hit the $2.13 mark, 3 cents less than last week and 48 cents lower compared to last year.
“Covid concerns are driving crude oil prices down to their lowest closing price since June,” said Mayko. “At $35 a barrel, the price is $20 less – a significant difference – compared to this time last year.” The price of crude oil is the driving force of prices at the pump.
As domestic demand and supply continue to fluctuate, every state except for South Dakota, is seeing gas prices drop or hold steady. Today, motorists can find gas for $2 a gallon or less at more than half of gas stations throughout the nation.
Here is AAA’s weekly price survey of Connecticut’s six metro regions:
Greater Bridgeport $2.23 Lower Fairfield County: $2.22
New Haven/Meriden $2.12 Greater Hartford $2.11
New London/Norwich $2.15 Windham/Middlesex $2.19
Statewide Average: $2.15
Today, Missouri registers the lowest prices in the nation at $1.80, followed by Mississippi and Texas, both at $1.81. Hawaii and California continue to hold the highest prices in the nation at $3.24 and $3.18. respectively. Connecticut moved up 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 www.gasprices.aaa.com.