Elm City gas prices continue to drop

(AP Photo / Julio Cortez)

NEW HAVEN, Conn. (WTNH) – Good news at the gas pump for the Elm City, as prices have dropped 0.3 cents per gallon in the past week.

According to GasBuddy, the average price per gallon in New Haven is $2.41; this compares with the national average that has fallen 2.7 cents in the past week to $2.22 per gallon.

According to GasBuddy’s historical data report, fuel prices on July 3rd in New Haven have ranged widely over the last five years:

  • $2.41/g in 2016
  • $2.92/g in 2015
  • $3.94/g in 2014
  • $3.75/g in 2013
  • $3.59/g in 2012

“With July 4 around the corner, the national average gasoline price has fallen over the last week yet again. While it has been over a month since the national average last saw a weekly rise, it is looking more likely we will soon face just that. Oil prices have rebounded off the previous $42 per barrel low, and now stand near $45 per barrel. It is just a matter of time before the national average bottoms out for the short-term, but at least the low prices was perfectly timed with what may be the lowest average gas prices of the summer as we celebrate the Fourth. While gasoline prices will likely begin to creep higher, the summer driving season could still end up being the lowest overall average since 2005.”

Dan McTeague, senior petroleum analyst for GasBuddy.com

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