HARTFORD, CT (June 18, 2021) – The average price of gas hasn'tmoved much for the last week or the last month really because supply has been growing along with demand.
In its latest weekly report, new data from the Energy Information Administration (EIA) showed growth in gasoline demand and total domestic gasoline stocks. The increase in total supply, even as gas demand increased, has helped to limit pump price fluctuations this week. However, rising crude oil prices could mean higher prices later this month.
Today’s national gas price average is $3.07, unchanged from one week ago, three cents higher than one month ago and 96 cents more than one year ago.
In Connecticut, the average price of gas is now $3.09, unchanged on the week, up three cents since last month, and up $1.01 cents higher than last year on this date.
The U.S. Federal Reserve indicated this week that interest rates are expected to increase earlier than forecasted due to rising inflationary pressure, which has put downward pressure on crude prices and limited price increases. However, earlier in the week, crude prices ascended due to optimism that vaccine rollout will continue to help crude demand recover. Additionally, crude prices were bolstered by EIA’s latest report revealing that total domestic crude supplies decreased by 7.4 million barrels last week.
As usual, the price of gas across CT varies by region:
- Bridgeport - $3.16, up a penny since last week
- Hartford - $3.06, unchanged since last week
- New Haven/Meriden - $3.06, unchanged since last week
- Norwich/New London - $3.10, 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