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Gasoline prices falling toward $2-a-gallon mark

Nationally, the average price of gasoline is expected to drop below $2 a gallon in the next day or so, which would be lower than it's been in four years, according to AAA.

The average price Monday was $2.01 for a gallon of unleaded, 69 cents less than a year ago.

"Not only does AAA expect the price of gas to drop below this significant benchmark, it won't stop there as demand for gasoline diminishes because Americans are staying home," said Amy Parmenter, a spokeswoman for AAA in Greater Hartford. "Ten states already have averages of $1.75 or less."

In Connecticut, Monday's average price was $2.16, down almost 13 cents in a week. The average price in the New London-Norwich area was $2.11.

The drop in gasoline prices follows the decline in the price of crude oil, which is in the vicinity of $20 a barrel. Due to the decline in demand, an usual amount of winter-blend gasoline remains available, causing the U.S. Environmental Protection Agency to extend the sale of winter blend past a May 1 deadline to May 20, according to AAA. The EPA said it would extend the deadline further, if necessary.


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