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After reaching a five-year peak, prices have been slowly, but surely dropping, with Connecticut’s average price per gallon of regular self-serve gas dropping to $3.09, down a few cents from a week ago.
Nationally, the average price per gallon has reached $2.84, five cents lower than a week ago and 13 cents from a month ago. A year ago, the average price sat at just $2.26.
In Connecticut, AAA’s weekly survey of gas prices found that the average price per gallon in the Nutmeg State’s six regions are:
- Bridgeport: $3.17 (down three cents from a week ago);
- Hartford: $3.05 (down three cents);
- Lower Fairfield County: $3.14 (down three cents);
- New Haven/Meriden: $3.07 (down two cents);
- New London/Norwich: $3.11 (down three cents);
- Windham/Middlesex: $3.08 (down two cents).
According to AAA, gas prices may be poised to drop even further, following OPEC’s announcement that the cartel will increase production in the second half of the year.
“The OPEC production increase will help to offset concerns of shrinking global supply caused by high global demand this year,” AAA spokesperson Jeanette Casselano noted. “For drivers in the U.S., pump prices likely will not see an impact immediately. Changes, and most likely not dramatic ones, are anticipated to hit pump prices late summer or early fall.”
Despite the positive outlook, prices may still fluctuate before Labor Day, one of the busiest driving holidays of the year.
"If demand increases and inventories drop in the weeks ahead, there’s a good chance prices at the pump can increase again, AAA Northeast Public Affairs Spokesman Fran Mayko said. “We expect the national average to range between $2.85 and $3.05 through Labor Day; while in Connecticut prices will be higher. Our expectation is that they’ll be in the $3.06 and $3.26 price range.”
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