HARTFORD, Conn. — Soaring gas prices are creeping closer to record highs. Over the weekend, the average price of gas, both in Connecticut and nationally, topped $4 for the first time since 2008.
Oil prices also surged to a 13-year-high Sunday as U.S. officials signaled an openness to a ban on Russian oil imports.
According to AAA, the average price of gas in Connecticut on Monday is $4.28, which is higher than the national average.
That number is up 56 cents from one week ago, and it's also creeping up on the state's highest recorded average of $4.39 in July 2008. Adjusted for inflation in January 2022, that's about $5.60.
“Every day it’s going up. I remember Friday, I went to a gas station, it was $3.74 and I said I’ll wait until tomorrow. The next day was $4.19," said Wain Gardner of Hartford.
Drivers looking for relief shouldn’t expect it anytime soon, according to the experts.
“I would love to say that we’re not going to hit that record, but if we keep seeing these double-digit per day increases, we’re going to hit that sooner rather than later," said AAA spokesperson Tracy Noble.
“I wouldn’t be surprised if it reaches $6 a gallon because the oil market historically has always been volatile," said Mohammad Elahee, a professor of international business at Quinnipiac University.
Experts said the effects of Russia invading Ukraine continue to drive up prices of crude oil and in turn gas prices.
“Any time there is uncertainty, crude oil prices tend to rise and that’s exactly what we’re seeing right now. There’s talk of sanctions. There’s talk of Russia withholding oil from the supply chain," said Noble.
That’s coupled with tight worldwide oil supplies and increased demand as the pandemic wanes.
“People are driving more. They’re returning to their offices. The commute is back to almost normal levels," said Noble.
As more people hit the roads, some are changing their driving habits until prices come down.
“I’m driving less. I’m cutting out things I would like to do until I absolutely have no choice to do them because I can’t afford to do it. I live paycheck to paycheck," said Ted Murphy of Canton.
Angelo Bavaro is an anchor and reporter at FOX61 News. He can be reached at abavaro@fox61.com. Follow him on Facebook and Twitter.
---
Have a story idea or something on your mind you want to share? We want to hear from you! Email us at newstips@fox61.com
---
HERE ARE MORE WAYS TO GET FOX61 NEWS
Download the FOX61 News APP
iTunes: Click here to download
Google Play: Click here to download
Stream Live on ROKU: Add the channel from the ROKU store or by searching FOX61.
Steam Live on FIRE TV: Search ‘FOX61’ and click ‘Get’ to download.