Despite fewer drivers fueling up, the statewide and national averages for a gallon of self-serve regular rose several pennies over the past week, says AAA Northeast.
Today’s Connecticut average hit $3.77, 6 cents higher than last week, while on the National level, the $3.80 average is 4 cents higher than last week.
Rising crude price and a volatile global market are both contributing to today’s higher prices, even though gas demand has dipped, and global supplies are tighter, said Fran Mayko, AAA Northeast spokeswoman.
“More expensive crude oil prices generally lead to more expensive gasoline,” said Mayko. “But those increases at the pump could be short–lived.”
Recent reports of new Covid-19 restrictions in China may stem increases especially if there’s an economic slowdown for the world’s top oil-consuming nation, said Mayko.
Today, crude prices, the driving force of prices at the pump, are more than $90 a barrel. However, if market concerns about a potential recession persists, crude could very likely drop in price.
Here is AAA’s weekly price survey of Connecticut’s six metro regions:
Greater Bridgeport $3.81 Lower Fairfield County $3.82
New Haven/Meriden $3.74 Greater Hartford $3.75
New London/Norwich $3.74 Windham/Middlesex $3.80
Statewide Average: $3.77
Today, Georgia and Texas register the lowest prices in the nation at $3.12 and $3.17, respectively. California and Hawaii hold the highest prices in the nation at $5.46 and $5.20, respectively. Connecticut is now in the 26th place on the list of highest gas prices in the nation. Average gas prices may be obtained daily through www.gasprices.aaa.com.