Connecticut gas prices continued their downward trajectory, falling to $3.35 for a gallon of self-service regular, down 11 cents from last week and 59 cents from last month, but still up 14 cents from a year ago.
Contrastingly, national gas prices edged up a nickel over the past week to $3.73, largely due to refinery issues in the Midwest and West Coast. The price is still down 14 cents from a month ago but up 54 cents from a year ago.
“Slack demand and lower oil prices should take some pressure off rising national gas prices,” said Alec Slatky, AAA Northeast Director of Public and Government Affairs. “But Hurricane Ian could cause problems, depending on the storm’s track, by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries.”
According to data from the Energy Information Administration (EIA), gas demand decreased from 8.49 million barrels/day to 8.32 million b/d last week. Meanwhile, oil prices dipped below $80/barrel last Friday for the first time since January, largely due to fears of a recession-led global economic slowdown.
Here is AAA’s weekly price survey of Connecticut’s six metro regions:
Greater Bridgeport $3.49 Lower Fairfield County $3.48
New Haven/Meriden $3.35 Greater Hartford $3.25
New London/Norwich $3.37 Windham/Middlesex $3.37
Statewide Average: $3.35
Today, Mississippi registers the lowest prices in the nation at $3.07, followed by Louisiana, Georgia, and Texas at $3.12. California and Hawaii have the highest gas prices in the nation at $5.80 and $5.23, respectively. Connecticut fell to 40th on the list of highest gas prices in the nation. Average gas prices may be obtained daily through www.gasprices.aaa.com.