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Gas Prices Dropping Across the State

Each gas station in America shows a shocking fact- gas has dropped below two dollars.

$1.80 is the average price of gas in Connecticut at this point, a seventy percent decline since June of 2014.

The price per gallon has seen a big change within the last four years, especially when, at this time in 2012, gas in Connecticut was over four dollars.

The fall of oil prices comes from a multitude of reasons, all of which come to benefit drivers everywhere. The prices make a big difference to trips across Connecticut, from the top corner of Connecticut at Putnam to the bottom corner at Norwalk is a 120 mile trip, almost two hours, but will only cost about ten dollars to a driver. That does not seem too bad. But why are gas prices constantly changing?

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Well, gas is made in a variety of blends, which also are affected by the season, a winter-gas blend and a summer, according to bankrate.com. The winter blend typically is made with cheaper hydrocarbons than those in the summer, which leads to drop in prices. On top of this, oil is being produced around the world, especially in the United States. Middle Eastern countries that sold oil within the United States, now are competing and are forced to drop the prices on oil. Changes in economies around the world, specifically China, also has a role, which in the long run can affect the country’s economy.

Each day, the gas prices are falling closer and closer to a dollar per gallon, which has not happened since 1999, a year that half of Woodland had never seen. The AAA constantly monitors the prices of gas and sees this as a serious possibility, with gas even at $1.40 in parts of the country. The government believes that prices last year saved drivers in the country one hundred billion dollars, with the possibility of even more this year. Causes of the fall may not be as important as the actual fall, but even more important-what are you going to do with the extra money?