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As of Monday, Jan. 4, the state's average price for a gallon of gas is $2.14, down 12 cents compared to last month; and 48 cents compared to last year.
The national average price is $1.99, teetering at that mark since Christmas week. Connecticut has held steady at 10th place for the last four weeks in terms of the state with the highest gas prices, AAA reported.
Drivers in 17 states are paying an average below $2 a gallon including Missouri and Oklahoma, which both continue to have the lowest average gas prices at $1.70 and $1.73, respectively. California and Hawaii continue to lead the pack with highest prices in the nation at $2.87 and $2.68, respectively.
In 2015, drivers statewide and nationally paid the second cheapest gas prices in a decade; only 2009 was cheaper, according to AAA.
Nationally, the annual 2015 price was $2.40; which was 94 cents less than 2014. In Connecticut, the annual 2015 price was $2.50, which was 13 cents less than 2014.
An oversupplied market; and very low crude oil prices -- between $36-$38 a barrel -- are the reasons for low gas prices last year, AAA said.
As for 2016, AAA estimates the average national price will likely end up between $2.25 and $2.45 a gallon. Based on typical seasonal trends, the national average price could remain relatively flat or drop another dime over the next few weeks. However, by late winter, drivers may see a bump up in price by as much as 50 cents as refineries conduct seasonal maintenance before the summer drive season, AAA added.
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