Lower Demand For Gasoline Brings Down Fuel Prices In Ridgefield

RIDGEFIELD, CT — Softer than expected gasoline demand over Labor Day and plunging stock and commodity markets are making visits to the pump a lot easier to live with, according to Lauren Fabrizi, spokesperson for AAA Northeast.

Domestic crude fell below the $70 a barrel benchmark last week, and traders anxious about the economy caused a sell-off on Wall Street, with oil prices following suit.

Even as demand fell sharply, domestic production of gasoline remained strong with refiners cranking out 9.9 million barrels a day of product last week, according to the Energy Information Administration. The result was regional gasoline inventories swelling by 2.6 million barrels, and supplies now sitting comfortably above last year’s levels, Fabrizi said.

In Connecticut, a gallon of self-service regular is averaging $3.28, down eight cents from a week ago and down 21 cents from a month ago. The national average is $3.27, down six cents from last week and down 18 cents from last month.

In Ridgefield, the best price for a gallon of regular fuel is $3.55 at Gulf at 115 Danbury Road. At the Stateline Exxon at 242 South Salem Road, a gallon of fuel costs $3.59. At the Getty at 36 Danbury Road, that same gallon will set you back $3.71. The Mobil station at 31 Danbury Road will charge you $3.99. The update was posted Monday by shopping app GasBuddy.

"Now that the summer driving season has ended, we’re seeing ballooning supplies, cheaper crude and fading demand," Fabrizi said. "That’s a recipe for falling gas prices."

Here is AAA Northeast's weekly price survey of Connecticut’s six metro regions:

• Bridgeport: $3.34
• Hartford: $3.25
• Lower Fairfield County: $3.29
• New Haven/Meriden: $3.31
• New London/Norwich: $3.21
• Windham: $3.23

On Monday, Mississippi and Oklahoma have the lowest prices in the nation at $2.79 and $2.80, respectively. California and Hawaii hold the highest prices in the nation this week at $4.71 and $4.62, respectively. Connecticut holds the 19th place on the list of highest gas prices in the nation. Average gas prices may be obtained daily through gasprices.aaa.com.