It what might be the ultimate example of irony, gas prices have fallen to four-year lows right at the moment when the COVID-19 pandemic has spurred government mandates for people to stay at home and avoid nonessential travel.
According to new data from AAA, the national average as of today is $1.99 for a gallon of regular gas, the lowest level recorded since March 2016. The national average was $2.44 in February and $2.69 in March 2019.
New York’s average is $2.33 per gallon, down from $2.59 last month and $2.73 one year ago. Connecticut is now averaging $2.14 per gallon, compared with $2.54 in February and $2.72 in March 2019.
Within the region’s submarkets, the average in White Plains is $2.48, down from $2.72 last month and $2.83 one year ago. The Dutchess-Putnam County submarket is averaging $2.43 per gallon, down from $2.68 last month and $2.75 one year ago. The Kingston submarket is averaging $2.30, down from $2.53 in February and $2.68 in March 2019.
Bridgeport’s $2.29 average per gallon is a drop from the $2.64 price last month and $2.80 price one year ago. For Lower Fairfield County, the average is $2.26, compared with $2.62 last month and $2.81 one year earlier.
“This week, the national gas price will drop below $2/gallon for the first time in four years and it won’t stop there as demand for gasoline diminishes as Americans stay home,” said Jeanette Casselano, AAA direct of public relations. “Ten states already have averages at $1.75 or less.”
Casselano added there is an atypical amount of winter-blend gasoline supply still available, which has caused the Environmental Protection Agency to extend the sale of winter blend past the May 1 deadline to May 20.
“Delaying the switch-over to summer-blend gasoline will contribute to sustained lower prices as summer-blend is more expensive to produce,” Casselano said.