CT Gas Drops Below $3 for First Time in Months
AAA Projects Downward Trend To Be Short-Lived
For the first time since mid-May, the average price of gas across Connecticut has dropped below $3.00 for a gallon of regular unleaded. It is typical for gas prices to tumble following the Labor Day holiday, as demand drops off and refineries change to the less expensive 'winter blend' of gasoline - but not this year. Gas prices have remained relatively high, mostly because of the high price of crude oil. But, gas prices nationwide have finally been trending downward for more than a week now.
"The $3 benchmark should bring welcome relief for motorists across Connecticut who, for most of this year, have been paying the highest gas prices since 2014," says Amy Parmenter, spokesperson for AAA in Greater Hartford. "Unfortunately, AAA does not expect the downward trend to last".
The average price for a gallon of regular gas across Connecticut today is just under $3.00, down two cents from a week ago but still 30 cents more than on this date last year.
Nationwide, the average price of gas is $2.84 - three cents cheaper than a week ago but still 38 cents higher than on this same date last year.
AAA projects the drop off in gas prices will continue for the next 10 days or so but prices are expected to increase again during the first week of November with uncertainty around the mid-term elections and in anticipation of the US announcement of imposed sanctions on Iran. (Nov 4).
"AAA is projecting that gas prices will go up again, but the increases are not expected to be as high as they were over the summer", Parmenter says.
The last 100 days of the year typically bring the least expensive gas prices of the year but, AAA experts say, not this year.
As usual, Connecticut gas prices vary by region:
New Haven/Meriden: $2.97
New London/Norwich: $3.02
Get the very latest on gas prices at GasPrices.AAA.com or through the AAA App.