Mar 27, 2008
As gas prices hit record highs, the town and businesses feel the pinch
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In recent weeks, regular unleaded gas has climbed to more than $3.50 on average in Wilton. This time last March, the price was $2.87, so with the average price rising nearly 70 cents over the last year, it’s no surprise the town and local businesses have felt the impact.
The price of gas has not been on a constant climb over the last year, however. While the average price made a jump from April 23 to May 21, 2007 from $3.075 to $3.355, it settled back to $3.075 by the end of summer on Aug. 27, 2007.
The price once again went back up, though, between the end of October and the end of November, from $3.019 on Oct. 22 to $3.391 on Nov. 26. That was the largest jump month over month over the past year, and the price has been on the rise ever since.
And the increase is being seen statewide and nationwide. Gas prices in Connecticut smashed a record high earlier this month, rising to $3.33 for a gallon of self-serve regular, according the American Automobile Association’s Connecticut Motor Club. The state has set gas pump price records nearly every day since Feb. 29.
Nationally, the average price for a gallon of self-serve regular hit $3.25, breaking the previous all-time national record set May 24, 2007. National prices are 29 cents higher than last month and 70 cents higher than last year, according to AAA.
The practical implications of the rising price of gas has meant both the town and the schools have been paying more for gas. The town once paid $2.124 per gallon of regular gas, up until the end of its last contract on Dec. 31, 2007. Under the terms of the new contract, the town now pays $2.936, an increase of more than 80 cents, according to Rich McCardle, the town’s comptroller.
In fiscal year 2007, the town used 51,529 gallons of regular gas for vehicle fuel. For this fiscal year,
© Copyright 2008 by Hersam Acorn Newspapers
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