Gas prices finally start to taper off

Marsha Scott
May 8, 2018

Statewide the average price is $2.81, which is up 2 cents from last week.

Average retail gasoline prices in CT have risen 2.2 cents per gallon in the past week, averaging $2.98/g yesterday, according to GasBuddy's daily survey of 1,540 gas outlets in CT.

"Preliminary projections had gasoline averaging around $2.75 this summer", said Mark Jenkins, spokesman, AAA - The Auto Club Group.

AAA reports drivers are paying $3.232 per gallon in OR, which is 50 cents higher than 2017, and $3.322 in Washington.

From 2017 to 2018, some US states have witnessed an increase of almost 70 cents at gas stations. Today's national gas price average is $2.81, which is the same as last week, up 15 cents in the last month and 46 cents higher than this time past year.

GasBuddy analysts correctly predicted this small break in the national average in last week's update, suggesting the cooldown may be temporary.

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Prices in CT inched a little higher over the past week.

"Whenever there is turmoil in the Middle East it does tend to put pressure on the gas prices". Modesto- $3.47/g, up 5.2 cents per gallon from last week's $3.42/g.

As of Monday morning, May 7, GasBuddy reports the cheapest fuel can be found in Grand Haven at $2.42 and in Newberry at $2.45.

"The rise in gas prices has slowed substantially in the last week in some places, with 15 states seeing gas prices move lower versus last week", Patrick DeHaan, head of petroleum analysis for GasBuddy, said. The threat that the president may pull out of the Iran treaty and reimpose sanctions against the Islamic Republic could push oil up by as much as $10 a barrel. "Gas prices were relatively stagnant last week, but we could see a slight boost, based on oil price gains last week and the potential for additional hikes in the coming days".

Rhode Island drivers are paying 4 cents more than the national average of $2.819.

Other reports by MaliBehiribAe

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