CT Diesel Fuel Prices Hit Record High Amid Global Conflict Fears
Connecticut's diesel fuel prices have hit a record high this week, reaching $6.48 per gallon on Wednesday and ticking up another 3/10ths of a penny to $6.49 on Thursday, according to AAA.
The state's home heating oil prices are also surging, increasing by 50% in just three months to an average price of $5.91 per gallon this week, with the Connecticut Department of Energy and Environmental Protection noting that home heating oil is up from $3.95 in late June.
Chris Herb, president and CEO of the Connecticut Energy Marketers Association, warns that consumers will likely face shortages and additional price increases this fall and winter due to ongoing conflicts between the U.S. and Iran and between Russia and Ukraine, which interfere with petroleum production and exports.
The national average for diesel prices also reached a record high at $6.53 per gallon on Tuesday and stood at $6.51 on Thursday, according to AAA.