Gas Prices Continue to Drop
Gas Prices Continue to Drop
Today’s national average price for regular unleaded gasoline is $2.47 per gallon, down two cents since last week. One year ago, the price was $2.24. The New York State average is $2.67, down three cents in the last week. A year ago, the NYS average was $2.37.
AAA Western and Central New York (AAA Western and Central New York) reports the following averages:
- Buffalo - $2.68 (down 2 cents in past week)
- Rochester - $2.59 (down 5 cents in past week)
- Rome - $2.64 (down 3 cents in past week)
- Syracuse - $2.48 (down 5 cents in past week)
Gas prices are continuing to decline and stabilize across the country. The Energy Information Administration’s (EIA) latest report shows that gasoline inventories are on the rise. The increase in gasoline placed into storage may be an indicator that demand has fallen due to fewer drivers making road trips this season, while refineries continue to produce gasoline at higher rates. As a result, drivers are likely to continue seeing stabilized or decreasing prices at the pump this week.
On the U.S. crude oil production side, oil market observers may see oil prices continue to move higher, as oil production and inventories decrease. However, with lower seasonal gasoline demand from U.S. drivers, there may be a push for OPEC and non-OPEC producers to take more pronounced measures to push oil prices higher through the current end of its production reduction agreement in March 2018. Until oil prices move higher, they are unlikely to have a major impact on the price consumers pay at the pump.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad, and Android. The app can also be used to map a route, find discounts, book a hotel, and access AAA roadside assistance.
Locate gas prices across the country at http://gasprices.aaa.com/.
AAA Western and Central New York members can receive discounts at NOCO gas stations, as well as Fastrac locations. Learn more here. You can find the lowest prices in your area at http://aaa.opisnet.com/index.aspx.
As Upstate New York’s largest member services organization, AAA provides nearly 860,000 members with travel, insurance, financial and automotive related services. Since its founding in 1900, AAA has been a leading advocate for the safety and security of all travelers. Visit AAA at www.AAA.com or download our mobile app at www.AAA.com/mobile.