Just in time for those who might be getting ready to hit the road for the holidays, prices at the pump have started to drop.
Here in Connecticut, AAA reports that the average price for a gallon of regular gas is $3.73, while last week it was $3.78, which means that the price has dropped a nickel in a week.
"They're coming down, coming down," said William Streeto of Branford. "Not a whole lot, but a few cents."
And just one month ago, the state wide average was $3.86 for a 13 cent drop.
"Gas prices don't seem to have a great of fluctuation with supply or demand," said Martin Cherniak of Clinton.
However, Carmine Patrizio, who owns Independent Gas Station said it's a volatile product, constantly going up and down. He said Superstorm Sandy and unrest in the Middle East caused prices to climb.
Now they're slowly moving back.
"A lot of times, when they see you messing with the numbers on the signs, they'll say ‘are you going up? I want it right now,'" Patrizio said. "When you tell them you're going down, they're like ‘ have you done it yet?'"
The price tracking website, GasBuddy.com states part of the reason for the downward shift is that just last week, the Energy Information Administration reported one of the largest single week increases in gasoline inventory.
But while the prices are dropping, they're still way above where Connecticut residents were last year at this time, which was $3.56 a gallon.
"I'd like to see it a lot more less, but it's better than nothing," Streeto said. "It's good. I'm liking it."
Copyright 2012 WFSB (Meredith Corporation). All rights reserved.
Wednesday, July 23 2014 7:06 AM EDT2014-07-23 11:06:51 GMT
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