Higher Gas Production, Lower Crude Drives Prices Down a Penny at Pump

Posted on April 12, 2021

Everything’s humming on the refinery front!  As production facilities crank out gasoline loads, national inventories are on the rise. Couple this with a drop in demand and lower crude prices, and drivers today are seeing a penny decrease in at the pump.

 

Today’s national average for a gallon of self-serve, regular is $2.86, a penny lower than last week but 99 cents higher than last year.

 

A similar scenario is playing out in Connecticut where today’s average price of $2.88 is also a penny lower than last week, but 85 cents higher than last year.

 

“After a wild March, Americans are seeing stable pump prices,” said Fran Mayko, AAA Northeast spokeswoman. “Forty state averages have either dropped or rose by only a penny; and in some cases, there’s been no change at all.”

 

Crude oil has dropped below $60 a barrel for five straight days. As a result, drivers can expect to see limited price fluctuations at the pump, Mayko added.

 

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

Greater Bridgeport                $2.94           Lower Fairfield County    $2.94

New Haven/Meriden           $2.87           Greater Hartford              $2.84

New London/Norwich         $2.93            Windham/Middlesex      $2.88

                            Statewide Average:  $2.88

 

Today, Texas, Mississippi, and South Carolina all register the lowest prices in the nation at $2.58, followed Louisiana at $2.61. California and Hawaii continue to hold the highest prices in the nation speat $3.94 and $3.72, respectively. Connecticut holds the 17th place on the list of highest gas prices in the nation. Average gas prices may be obtained daily through www.gasprices.aaa.com.

 

Connecticut
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