Connecticut Drivers Seeing Zero Movement at the Pump this Week
Pump prices stabilize as demand for gas dips
HARTFORD, CT (August 13, 2021) – Connecticut drivers may be experiencing déjà vu at the pump as averages across many areas of the state haven’t budged since last Friday. In its latest weekly report, the Energy Information Administration (EIA) reported that gas demand dropped to a measurement that is lower than the rate at this time in 2019, signaling that summer gas demand is likely softening as the school year starts, in addition to COVID concerns. The drop in demand has helped to minimize pump price increases, but elevated crude prices continue to keep summer pump prices high. As crude prices remain high, though back below $70 per barrel, AAA expects the national average to remain above $3 per gallon throughout the summer.
Today’s national average is $3.18, unchanged in the last week, up four cents from oone month ago and $1.01 higher than this time last year.
In Connecticut, the average price of gas is now $3.18, unchanged on the week, up three cents since last month, and up 99 cents higher than last year on this date.
“Local drivers didn’t see any change when filling up this week as the demand for gasoline has started to wane,” said Amy Parmenter, spokesperson for AAA in Greater Hartford. “Crude oil prices are still hovering around the $70 mark, which may keep pump prices from dropping much further.”
Crude prices have declined slightly this week due to market concerns that crude demand may not rebound this year as anticipated due to surging coronavirus infection rates across the globe. Price decreases have occurred despite EIA’s latest report showing that total domestic crude stocks decreased nominally last week.
As usual, the price of gas across CT varies by region:
Bridgeport - $3.25, unchanged since last week
Hartford - $3.14, unchanged since last week
New Haven/Meriden - $3.15, unchanged since last week
Norwich/New London - $3.21, unchanged 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