Drivers are getting early holiday presents this year as statewide and national gas prices continue their decline, says AAA Northeast.
Today, the statewide average for a gallon of self-serve regular is $3.36, 17 cents lower than last week. Connecticut prices are also 17 cents lower than last year.
On the national level, today’s average price of $3.26 is 14 cents lower than last week. It’s also 7 cents lower than last year.
Several factors are contributing to recent price declines, said Fran Mayko, AAA Northeast spokeswoman.
“Lower demand, partially because of bad weather nationally, and declining crude oil prices are pushing state averages lower,” Mayko said. “Last week we also saw a drop in the price of crude, the driving force of prices at the pump.”
Last week, crude oil prices settled around $71 a barrel after the US Energy Information Administration reported supplies dropped less than the market originally expected. “Crude prices could continue their slide because of market worries that global demand could stagnate or decline into 2023,” said Mayko.
“If this trend continues, many states, including Connecticut, could see average prices below $3 a gallon by early next year. Only time will tell,” she added.
Here is AAA’s weekly price survey of Connecticut’s six metro regions:
Greater Bridgeport $3.51 Lower Fairfield County $3.47
New Haven/Meriden $3.38 Greater Hartford $3.29
New London/Norwich $3.24 Windham/Middlesex $3.39
Statewide Average: $3.36
Today, Texas and Oklahoma register the lowest prices in the nation, both at $2.70, followed by Arkansas at $2.80. Hawaii and California have the highest gas prices at $5.15 and $4.53, respectively. Connecticut continues to hold steady at the 20th spot on the list of highest gas prices in the nation. Average gas prices may be obtained daily through www.gasprices.aaa.com.