The connective constant $μ(G)$ of a graph $G$ is the exponential growth rate of the number of self-avoiding walks starting at a given vertex. We investigate the validity of the inequality $μ\ge φ$ for infinite, transitive, simple, cubic graphs, where $φ:= \frac12(1+\sqrt 5)$ is the golden mean. The inequality is proved for several families of graphs including (i) Cayley graphs of infinite groups with three generators and strictly positive first Betti number, (ii) infinite, transitive, topologically locally finite (TLF) planar, cubic graphs, and (iii) cubic Cayley graphs with two ends. Bounds for $μ$ are presented for transitive cubic graphs with girth either $3$ or $4$, and for certain quasi-transitive cubic graphs.