HARTFORD, CT (April 12, 2021) - After a wild March that sent gas prices soaring, lower, steadier crude oil prices mean Americans are now seeing more stability in gas prices, with the National average actually down slightly on the week and the same here in Connecticut.
The national gas average increased by 16 cents in March, as did the average for Connecticut, but both have fluctuated just slightly, dropping by about a penny, in the first two weeks of April.
“On the week, gas price averages in almost every state either increased or decreased by only a penny, or had no change at all,” says Amy Parmenter, spokesperson for AAA in Greater Hartford. “That’s certainly what we are seeing here in Connecticut where the average price of gas is holding steady.”
For the first time in nearly two months, crude oil prices last week held below $60 per barrel for five straight days. The cheaper price is a positive indicator for more stability at the pump.
Refinery and production increases, a slight decrease in demand and the cheaper crude oil prices resulted in the national gas price average decreasing by a penny to $2.86 on the week. This average is more expensive on the month (+3 cents) and year (+$1.00).
In Connecticut, the average price of gas is now $2.88, unchanged on the week, up four cents in a month and 86 cents higher than last year on this date.
Gasoline demand dropped slightly last week, well above the 5.5 million barrels per day recorded one year ago, but still significantly lower than what was seen in early April 2019. AAA expects April demand to remain below levels from 2019, but see healthy increases from a year ago, when many Americans were quarantining.
As usual, the price of gas across CT varies by region:
- Bridgeport - $2.94, unchanged since last week
- Hartford - $2.84, down a penny since last week
- New Haven/Meriden - $2.87, unchanged since last week
- Norwich/New London - $2.92, down a penny since last week
Provide Connecticut drivers with the latest gas prices by adding this link to the front page of your website: GasPrices.AAA.com