Connecticut gas prices down five cents

Connecticut now holds 14th place in terms of the highest gas prices in the nation — or depending upon your point of view — now ranks 38th in terms of the states with the cheapest average prices.

AAA’s Sept. 14 survey of prices in Connecticut found self-serve regular unleaded averaging $2.51 a gallon, down a nickel compared to last week, down 23 cents from last month, and down $1.20 compared to last year.

Generally, Connecticut has ranked among the top 10 high paying states, but in recent weeks moved out of that category and has held steady at 13th place.

AAA’s weekly survey of prices in the Nutmeg State’s four regional areas as follows:

  • Greater Bridgeport/Stamford, $2.61

  • New Haven/Meriden, $2.61

  • Greater Hartford, $2.47

  • New London/Norwich,         $2.45

  • Statewide average, $2.51

On the national level, today’s average price is $2.33, seven cents lower than last week, 32 cents lower than last month, and $1.07 lower than this time last year.

Prices have fallen throughout the summer because of dropping crude oil prices, the driving force of the price of gas at the pump. Crude oil is about $45 a barrel today.

Along with plunging crude, there are several factors affecting prices:

  • Weakened global economies, specifically in Europe and China

  • A massive oil glut in the marketplace because the U.S. has doubled its domestic production over the last few years;

  • A worldwide decline in fuel use because of the number of energy-efficient vehicles being manufactured.

Of the 50 states and the District of Columbia, three states — Alaska, California, and Nevada — have average gas prices over $3 a gallon, while three other states — South Carolina, Mississippi, and Alabama — now have average prices under $2.

AAA Northeast is a not-for-profit auto club with 61 offices in Rhode Island, Massachusetts, Connecticut, New Jersey, New Hampshire and New York providing more than 5.1 million local AAA members with travel, insurance, finance, and auto-related services.