BROOKFIELD, CT — Gas prices have continued to decline in recent weeks, widening the gap between current prices and those recorded at the same time last year. The decrease comes as crude oil prices have fallen and gasoline demand has remained weak, according to analysts at AAA Northeast.In Brookfield, the best price for a gallon of regular fuel is $2.83 at BJ's Wholesale at 106 Federal Road and the ...
BROOKFIELD, CT — Gas prices have continued to decline in recent weeks, widening the gap between current prices and those recorded at the same time last year. The decrease comes as crude oil prices have fallen and gasoline demand has remained weak, according to analysts at AAA Northeast.
In Brookfield, the best price for a gallon of regular fuel is $2.83 at BJ's Wholesale at 106 Federal Road and the Costco at 200 Federal Road. The cost is $2.85 at the CITGO at 177 Federal Road. At the Sunoco at 30 Federal Road, you'll pay $2.87. The update was posted Monday morning by shopping app GasBuddy.
Since late January, fuel prices have edged downward, driven in part by declining crude oil costs and economic uncertainty. Crude prices ended last week down between 3 and 4 percent, as markets reacted to an anticipated increase in production from OPEC+ nations in April, marking the end of two years of output reductions aimed at stabilizing prices.
In addition to lower crude prices, domestic gasoline demand has remained subdued since the start of the year, contributing to high inventory levels and reduced price pressure. According to the Energy Information Administration, regional gasoline inventories stand at more than 66 million barrels—2 million barrels higher than last year and above the five-year average. However, recent data suggests demand may be increasing. The EIA reported a 700,000-barrel drawdown in supplies last week, while daily gasoline demand rose to 8.87 million barrels, up from 8.45 million barrels the previous week—the highest level so far this year.
“With the transition to more expensive summer-blended gasoline approaching in the coming weeks, prices are likely to rise, but market uncertainty continues to play a role,” said Lauren Fabrizi, spokesperson for AAA Northeast. “For now, lower crude oil prices remain a significant factor in keeping gas prices down.”
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AAA Northeast’s March 10 survey found that the average price for a gallon of regular gasoline in Connecticut is $3.03, down three cents from last week’s $3.06. Prices are five cents lower than a month ago and 26 cents lower than the same day last year, when they averaged $3.29.
Nationally, the average price per gallon is $3.08, down one cent from last week and five cents lower than a month ago. Compared to the same day last year, national prices have fallen by 31 cents from $3.39.
Mississippi and Kentucky currently have the lowest gas prices in the country at $2.62 and $2.66 per gallon, respectively, while California and Hawaii have the highest at $4.71 and $4.53. Connecticut ranks 18th among states with the highest gas prices.
Average gas prices may be obtained here online daily.