Global Tensions Push Oil Prices Higher, Pump Prices to Follow, says AAA Northeast

Posted on January 31, 2022

Global tensions involving Russia and Ukraine are pushing crude oil prices toward the $90 a barrel mark, which in turn is translating into higher prices at the pump, says AAA Northeast.

 

Today, the national average price of $3.37 for a gallon of self-serve, regular is about 4 cents higher than last week while in Connecticut, the state’s $3.51 average is only a penny higher.

 

Industry analysts believe Russa, a member of OPEC+, may withhold crude oil from the global market if Western sanctions are imposed on their actions. If this happens and oil prices continue to climb toward $90 a barrel, pump prices are likely to follow. Crude is currently in the $86 a barrel range.

 

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

Greater Bridgeport                $3.58            Lower Fairfield County    $3.56

New Haven/Meriden           $3.50            Greater Hartford              $3.48

New London/Norwich         $3.51             Windham/Middlesex      $3.51

                            Statewide Average:  $3.51

 

 

Today, Mississippi registers the lowest prices in the nation at 3.01, followed by Arkansas and Texas, both at $3.02. California and Hawaii continue to hold the highest prices in the nation at $4.64 and $4.38, respectively.  Connecticut moved down to the 13th spot 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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