gasoline prices

Conn. Gas Price Drops Below $2 a Gallon for First Time in Four Years

gas pump
NECN

The average price of gasoline in Connecticut has dropped below $2 for the first time in four years.

The last time a gallon of regular unleaded gas was below $2 was in March 2016, according to AAA Gas Prices.

The statewide average on Friday is $1.99, which is five cents less than a week ago, 41 cents less than a month ago and 84 cents less than it was on this date last year.

AAA Allied Group said there is a similar trend in dropping gas prices nationwide because of a drop in demand because of the COVID-19 pandemic, which has closed many businesses and prompted many people who are working to work from home.

 “The latest data reveals demand levels not seen since spring of 1968,” Amy Parmenter, spokesperson for AAA in Greater Hartford, said in a statement. “Every U.S. region is seeing builds in gasoline inventories and crude storage, which is just driving pump prices even cheaper.”

The national gas price average is $1.83 today.

In addition to Covid-19 and crude oil prices pushing prices lower, AAA Allied Group said most gasoline retailers are still selling the less expensive ‘winter blend’ of gasoline because they still have so much stock on hand, rather than switching over to the summer blend.

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