Fuel Report

Despite reports in recent weeks of increased oil exports from other countries, the Western squeeze on Iran has led to lower export figures and an increase in oil prices, the Associated Press reports. President Obama has said the tensions with Iran, coupled with increased demand in China and India, is helping to drive up prices at the pump in the United States, according to AFP. BusinessWeek says the increase is offset somewhat by a pledge from Saudi Arabia to increase production as well as a decline in Chinese industrial activity.

There's also been a fair amount of activity Connecticut-wise regarding gas prices. Senator Blumenthal has called for Attorney General Eric Holder to crack down on "abusive and illegal market speculation by market manipulators and foreign cartels trying to make a quick profit," which he says leads to artificial inflation at the pump. Rep. Joe Courtney has made a similar call for action to the Commodity Futures Trading Commission. State Rep. T.R. Rowe wrote to the Trumbull Patch in support of a cap on the gas tax, and Reminder News reports that several state legislators held a gas tax cap rally on Wednesday.

Prices are still on a slow rise. According to ConnecticutGasPrices.com, the average price for a gallon of regular grade gasoline went up two cents in the past week to $4.03 in Connecticut while the national average climbed a nickel to $3.86. The cheapest reported station in the state on Friday afternoon was again the Costco in Enfield, with a price of $3.79.

The cheapest price in New London actually decreased, with the on Montauk Ave. boasting the cheapest price with $3.93. Prices elsewhere have taken a hike, with the next most economical option being $3.99. This is available at the on Broad Street and for cash at the and on the same road.

In Groton, prices start at $3.99 at the Citgo on Fort Hill Road. This is followed by $4.01 at the Sunoco on Shennecossett Road and $4.03 at the Shell on Fort Hill Road. Waterford has $3.96 gas available at the BJ's on Cross Road, followed by $3.99 at the Bestway on Boston Post Road and $4.03 at both the Mobil on Boston Post Road and Shell on Great Neck Road.

For more information on traffic conditions and gas prices, check out our Traffic & Gas section.

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