Gas prices shoot up across Connecticut
If you filled your gas tank on Saturday, you were probably in for a surprise. Gas prices shot up as much as 20 cents a gallon overnight in Connecticut.
The price hike comes just a week before the Labor Day holiday, when many folks are hitting the road.
Michael Fox, the Executive Director of the Connecticut chapter of the Gas and Auto Service Dealers of America, says wholesalers are driving up prices based on Wall Street trader hysteria. He also says the increases are worse in Connecticut thanks to the gross receipts tax, and because of the small number of service stations.
Experts don't expect to see a significant reduction in the prices until later this fall. That's when a new Russian pipeline is supposed to be finished, and everyone's hoping the situation in Iraq improves as well.