(WTNH)- Because more oil in the marketplace, national and statewide gas prices have dropped since last month, says AAA Southern New England.
As of August 4th, national prices are averaging $3.50, 12 cents lower than this time last year when it was $3.62 a gallon. Here, in The Nutmeg State, prices are $3.87, also 12 cents lower compared to last year’s average price of $3.99 for a gallon of self-serve, regular.
Gas prices are expected to spiral downward slowly in August as long as long as refinery production remains strong and oil costs remain stable or drop. Only unexpected issues – such as a hurricane striking the Gulf Coast; or a cut in refinery production will prompt prices to rise.
Here is an overview of average statewide prices in Connecticut:
Greater Bridgeport/Stamford $3.95 New Haven-Meriden Area $3.85
Greater Hartford $3.84 New London-Norwich Area $3.89
Statewide Average: $3.87