Conn. Gas Reaches Record High Prices

March 9, 2022

NBC Connecticut

Gas prices have reached a new record high in Connecticut on Wednesday, according to AAA.

As of Wednesday, the average price of gas in our state is $4.41 per gallon. That’s up about six cents since Tuesday and up 66 cents from last week.

Now where does your money go when you fill up your gas tank?

  • About 70 cents is going to taxes.
  • There’s a federal excise tax of about 18.4 cents per gallon.
  • There’s also petroleum gross receipts earning tax, which is now about 27 cents.

So why is one gas station so much higher than the next a few minutes down the road? It’s possible rent could be higher, wages could be higher and insurance could be higher.

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