Gas pumping. Credit: Christine Stuart / CTNewsJunkie
Gas prices continue to fall in Connecticut, but remain higher than the national average.
They’re down 78 cents for the month according to AAA, but Connecticut still costs $4.20 a gallon, while the national average is $4.03.
Consumers won’t see prices as high, however, because the state has suspended its 25-cent gas tax until Nov. 30.
The suspension of fares on all public transport buses across the state has been extended till the same date.
Nationally, gas prices have fallen sharply since their all-time high on June 14, when a gallon of regular gas averaged $4.98.
But that’s still higher than this time a year ago. The average price of a gallon of regular gas a year ago was $3.17 in Connecticut.
Even as gas prices continue to decline, U.S. motorists are changing their driving habits during the peak summer season, according to AAA, which notes that oil costs have fallen due to fears of an economic slowdown elsewhere in the world.
“Oil is the main ingredient in gasoline, so less expensive oil is helpful in taming prices at the pump,” said Andrew Gross, a spokesman for AAA. “Combine that with fewer drivers taking advantage and you have a recipe for gas prices to continue to fall. The national average may fall below $4 this week.”
According to new data from the Energy Information Administration, gas demand fell to 9.25 million b/d from 8.54 million b/d last week. The rate is 1.24 million b/d lower than last year and in line with the need for late July 2020, when there were COVID-19 restrictions and fewer drivers were on the road.
AAA found that drivers made significant changes to deal with high pump prices. In a new poll, nearly two-thirds of American adults have changed their driving or lifestyle habits since March. The two main changes drivers make to offset high gas prices are driving less and combining errands.