Gas prices drop 15 cents, highest in UP
- Author: Sonia Alvarado Sep 19, 2017,
Sep 19, 2017, 0:36
Today (Sept. 18) Connecticut's average gas price of $2.85 is $.02 cents lower than last week, while nationally, averages prices at $2.62 are $.05 cents lower than last week.
Harvey, which barreled through an oil production and refining center in the Gulf of Mexico last month, brought a surge in gasoline prices.
According to the U.S. Energy Department, six Gulf Coast refineries are operating at reduced rates, which is one more refinery than last week.
Oil prices have been seeing little action as of late, holding just under $50 per barrel for West Texas Intermediate crude oil.
A steady stream of ships delivering gasoline to Florida's ports are helping to normalize supply levels in the southeastern USA, and gas prices are beginning to drift a little lower, AAA reported in a news release Monday.
The least expensive gas price averages in Florida are in Pensacola ($2.63), Tallahassee ($2.65), Fort Myers-Cape Coral ($2.69), according to AAA.
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Patrick DeHaan, senior petroleum analyst with Gasbuddy, said prices are falling thanks to winter gas blend, less demand, and refineries coming back online after Hurricane Harvey. The statewide average was $2.71 on Monday compared with $2.255 a month ago.
"Gas demand should drastically decline across the Carolinas by the end of September, as the Labor Day holiday signaled the end of the summer driving season", Wright said.
The bottom line: Prices haven't been this high since the fall of 2014. And they're expected to fall much further ... if there's not another storm.
"Gas prices are poised to plummet 30 cents", Jenkins said. Not a threat to make landfall, Hurricane Jose, a Category 1, is well off the shore of North Carolina. The national average stood at $2.63 per gallon on Sunday.
In Columbus, the current price per gallon for regular is $2.62, up from $2.16 a month ago and $2.04 a year ago.