Have Gas Prices Peaked?

Is it possible gas prices might finally start to decline? In East Hampton, the cost for a gallon of regular unleaded at Citgo Food Bag had dropped by two cents on Saturday and prices in East Hampton and Portland seem to have leveled off, though all were up overall for the past week.

Still, with a big dip in oil prices late last week, trading at under $100 for the first time in nearly two months, and demand dropping given the high cost, there are some signs that gas prices might have finally peaked.

As of Sunday, the Connecticut average for regular unleaded was $4.269 a gallon. Diesel was $4.379.  Locally, the prices were a little better, with the best cash deal at Hess, Gulf and Citgo, all in Portland, where the price for regular unleaded was $4.159 on Saturday.

There was some other good news recently, at least for those who shop at Stop & Shop.

The supermarket has teamed up with Shell to expand the grocery chain’s Gas Rewards program to customers across Massachusetts, Connecticut, Rhode Island, New Hampshire, and New York.

Stop & Shop customers are now able to redeem their Gas Rewards points at approximately 600 participating Shell stations in addition to more than 70 existing Stop & Shop gas stations throughout the Northeast.

That hasn’t been an easy thing to do for Stop & Shop customers in East Hampton and Portland since the program’s inception in 2008. The closest Stop & Shop gas stations were in Willimantic, Manchester, Berlin, Wallingford and Niantic. Recently, a new one opened on Route 372 in Cromwell.

Of course, as luck would have it, there are no Shell stations in our towns, either. It does add some options, however.

There are three Shell stations in Glastonbury (2088 Hebron Ave., 556 Hebron Ave. and 2749 Main St.) that will accept Gas Reward points, in addition to Shell stations in Salem (routes 85 and 82), Killingworth (routes 80 and 81) and Centerbrook (23 Main St.).

"Our alliance with Shell means more choice and more value for customers," said Mark McGowan, division president of Stop & Shop New England. "While Gas Rewards has already been a success with customers for the past few years, the added ability to save on fuel with Shell helps our customers realize the full potential for savings, which they can achieve through their gas points."

A Stop & Shop loyalty card is required to earn Gas Reward points.

To view the current state metro average gas prices, click here, or here to view the national averages.

As of Saturday, here is the rundown of local prices for regular unleaded and diesel.

East Hampton

Citgo Food Bag, Route 66 - $4.179 (regular unleaded); $4.219 (diesel)

Citgo Food Bag, Route 16 - $4.179 / $4.219

Cobalt Valero - $4.189 / $4.249 (same price cash or credit)

Portland

Citgo, Route 66 - $4.159 / $4.169

Mobil, Route 66 - $4.239 / $4.269 (same price cash or credit)

Valero, Route 17 - $4.199 / $4.199

Cumberland Farms, Route 66 - $4.199 / no diesel (same price cash or credit)

Hess, Route 66 - $4.159 / no diesel

Gulf, Route 66 - $4.159 / $4.169

Sunoco, Route 66 - $4.199 / no diesel (same price cash or credit)

The nine-day increases for regular unleaded: both Citgo Food Bags in East Hampton up 8 cents; Cobalt Valero (+6 cents); Portland Citgo (+2 cents); Portland Mobil (+9 cents); Portland Valero (+10 cents); Portland Cumberland Farms (+5 cents); Portland Hess (+6 cents); Portland Gulf (+6 cents) and Portland Sunoco (+7 cents).