Gas prices expected to rise

Published on Friday, 16 February 2018 22:34
Written by Angie DeRosa


NEW BRITAIN - As people prepare for their holiday weekend - thanks to Presidents’ Day - AAA experts say gas prices are expected to increase.

Although gas prices have dipped slightly this past week, AAA said it will spike toward the end of February or beginning of March.

“Motorists can expect to pay as much as 25 to 30 cents more per gallon,” Amy Paramenter, spokesperson for AAA in Greater Hartford, said.

According to AAA gas prices, Friday’s national average was $2.54.

Connecticut is among the top 10 most expensive states for gas with the average price at $2.72 for a gallon of regular unleaded.

If projections are accurate, AAA said drivers across the country and across the state will be paying the highest gas prices since 2012. In Connecticut this will top over $3 a gallon.

Gas price projections are based on predictable market dynamics, not including unforeseen changes in oil markets, financial markets and or the political landscape.

AAA experts said the increase in gas prices will be notable nationwide due to the rising costs of crude oil.

However in the northeast the pump prices will rise even higher because of the aftermath of Hurricane Harvey, the tropical cyclone that hit coastal communities last fall.

Many refineries that supply the northeast had to postpone their fall maintenance until spring because of the hurricane. With that said, spring production will also be limited as a result.

The increase in gas prices is expected to peak around April 1.

Posted in The Bristol Press, General News on Friday, 16 February 2018 22:34. Updated: Friday, 16 February 2018 22:37.