Drivers in the United States are staying off the roads this month, keeping demand for gasoline down. At the same time, fears of a global economic recession has also pushed the price of crude oil down by $7, according to a report from AAA.
Both of these factors have helped keep rising prices in check over the last couple of weeks, both nationally and here in Connecticut.
According to AAA, the national average price for a gallon of gasoline is $3.88, up 20 cents from a month ago, but down significantly since the June high of more than $5. Prices in Connecticut have also ticked up slightly since September, sitting at an average of just under $3.50 per gallon, according to GasBuddy.
If you’re looking to bargain shop, though, there are places you can fill up your tank for as low at $3.09, according to GasBuddy’s tracker. Most locations, though, seem to be hovering around $3.15-3.24.
“Lower gasoline demand, amid increasing supply and fluctuating oil prices, has contributed to the national average moving downward,” says AAA. “If demand continues to drop coupled with a slide in oil prices, drivers could see increases in prices at the pump start to slow and even come down through the week.”