Gas prices are rising along with the heat

Shelton-Gas-Pump-FI

Average retail gasoline prices in Connecticut have risen 15.9¢ per gallon in the past week, averaging $3.92 per gallon yesterday, according to GasBuddy’s daily survey of 1,540 gas outlets in Connecticut. This compares with the national average that has increased 11.7¢ per gallon in the last week to $3.62 per gallon, according to gasoline price website GasBuddy.com.

The least expensive gas in Shelton on Monday was reported as $3.79 being charged at Citgo, 442 River Road. The most expensive being reported is at the Gulf, 20 Huntington Street, at $3.99 a gallon. Judging by the prices rising throughout the state, these prices may change quickly today.

Egypt blamed for some of the price hike

Including the change in gas prices in Connecticut during the past week, prices yesterday were 22¢ per gallon higher than the same day one year ago and are 14.6¢ per gallon higher than a month ago. The national average has increased 0.4¢ per gallon during the last month and stands 19.5¢ per gallon higher than this day one year ago.

“Nationally, gasoline prices have begun moving upward yet again. I suspect that the unrest in Egypt is playing a significant role in pushing crude values higher, and thus retail gasoline prices higher as well,” Patrick DeHaan, GasBuddy.com senior petroleum analyst, said. “The market is seemingly quite sensitive to the situation in Egypt as the Energy Information Administration has reported two consecutive weeks of large declines in crude oil inventories, drawing concern that a loss in Middle Eastern crude would mean continued declines in inventories stateside.”

About GasBuddy

GasBuddy operates ConnecticutGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.

 

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