As of Monday, Feb. 13, the statewide gas price average of $2.42 remains the same as it was last week. Gas prices have dropped $.07 cents compared to this time last month, but compared to this time last year, prices in Connecticut are $.51 cents higher.
There’s a similar affair occurring on the national level. National prices are averaged $2.28 on Feb. 13, a penny lower compared to this time last week and $.07 cents lower than this time last month. Those prices, however, are $.58 cents higher compared to last month.
Industry experts report gas prices have remained relatively steady the past month because of a well-supplied crude oil market. Despite OPEC’s reports that cartel member and nonmember countries have implemented production cuts per a Jan. 1 agreement, the market continues to be oversupplied because the US has increased its own drilling and production activities. This continues to offset OPEC’s efforts to rebalance the global market.
AAA’s weekly survey of prices in Connecticut’s four regional areas as follows:
- Greater Bridgeport/Stamford $2.51
- New Haven/Meriden $2.40
- Greater Hartford $2.40
- New London/Norwich $2.39
- Statewide average $2.42
On Monday, Feb. 13, South Carolina and Tennessee registered the lowest averages in the nation at $2.03 and $2.05, respectively. As usual, Hawaii continues to lead the nation with highest prices in the nation at $3.11 followed by California at $2.87. Connecticut holds steady at 10th place in terms of the highest state prices in the nation.
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 2 million local AAA members with travel, insurance, finance, and auto-related services.