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News Apr 16, 2018 - 5:14:55 AM


Connecticut Weekly Fuel Update and Outlook

By GasBuddy


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Average retail gasoline prices in Connecticut have risen 2.5 cents per gallon in the past week, averaging $2.77/g yesterday, according to GasBuddy's daily survey of 1,540 gas outlets in Connecticut. This compares with the national average that has increased 5.2 cents per gallon in the last week to $2.71/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Connecticut during the past week, prices yesterday were 31.5 cents per gallon higher than the same day one year ago and are 8.7 cents per gallon higher than a month ago. The national average has increased 17.7 cents per gallon during the last month and stands 30.1 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on April 16 in Connecticut have ranged widely over the last five years:
$2.46/g in 2017, $2.23/g in 2016, $2.49/g in 2015, $3.79/g in 2014 and $3.77/g in 2013.

Areas near Connecticut and their current gas price climate:
Waterbury- $2.73/g, up 3.6 cents per gallon from last week's $2.69/g.
New Haven- $2.75/g, up 3.5 cents per gallon from last week's $2.71/g.
Hartford- $2.72/g, up 3.4 cents per gallon from last week's $2.68/g.

"The seasonal surge at gas pumps is in full motion, causing the most dreaded time of year for fearful motorists, especially of what may still be coming," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "With the national average gas price now at its highest since July 26, 2015, I can't immediately allay all fears of a continued spike in gas prices, however, we're likely in the closing innings of the seasonal rise- let's just hope we don't go to extra innings. In the past few years, the average date that gas prices have peaked is mid-May, which is just around the corner, and by all metrics, that could be very close to what we expect this time around. Refinery maintenance has gone well thus far, and gasoline supply has continued to push higher as more refiners conclude their work. With the transition to summer gasoline also wrapping up, the reasons gas prices to rise will shrink."

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.




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