Despite temperatures lingering in the 90s, concerns over the coming winter are surfacing.
Connecticut now has the distinction of having the highest gasoline tax in the lower 48 states – a whopping 70.3 cents for every gallon purchased.
Locally, according to AAA, the average price for regular is $4.09 in New York, $3.81 in New Jersey, and $4.19 in Connecticut.
Those for lifting the moratorium say increasing oil supplies will help lower gas prices, but the Sierra Club’s Jeff Tittel says it’s not worth threatening beaches.
Federal regulators aren’t sure if there’s anything fishy going on with oil prices but the recent volatility—the sharp rise and quick decline—is raising eyebrows.
With gas prices well over $4 a gallon, Rockland County legislator Ed Day says there is no way they can compete with New Jersey. He is now pushing a bill to cap the county sales tax on gasoline at $2 a gallon.
Oil company earnings won’t drive down prices at the gas pump, but one oil analyst has an idea about what might.
Gas prices are pumped up across the Tri-State Area, and with seemingly no end in sight, drivers were lining up at area gas stations on Thursday to fill up before the prices soar again.
At first you might have thought your eyes were playing tricks on you, but they weren’t. Gas prices hit $4.99 for premium in Stamford on Wednesday.
In New Jersey, known for its cheap fuel, the average price per gallon for regular gas is now $3.61. In New York, it’s $3.96. Connecticut drivers have it worst, with the average price for regular at almost four dollars a gallon.
The statewide average in New York, according to AAA, was $3.93 a gallon for regular. In Connecticut, prices rose by a penny to $3.94. In New Jersey, prices were a comparatively cheap $3.58.
AAA Mid-Atlantic says the average price of regular gasoline on Friday was $3.56, up 12 cents from last week.
AAA Mid-Atlantic says the average price of regular gasoline on Saturday was $3.44, up six cents from last week. And that’s also much higher than a year ago, when New Jersey motorists were paying $2.63.
It’s hard not to think you’re being gouged when you see the gas prices spike, and in some cases, you are. Aside from that, though, the buying and selling of gasoline is a complicated business based on anticipation as much as reality.
Amid the chaos and turmoil in Libya, some analysts believe the oil prices will soon skyrocket. But according to Oil Price Information Service analyst Tom Closaw, that’s not the case.
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