Gas Prices Drop Across the Region

Gas Prices Drop Across the Region

gas prices
Oil prices and tensions with Iran stall large drops in fall gas prices
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All Regions
Elizabeth Carey

Today’s national average price for a gallon of gasoline is $2.85, down four cents from last week. One year ago, the price was $2.46. The New York State average is $2.98 – down two cents from last week. A year ago, the NYS average was $2.65. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $2.94 (down one cent since last week)
  • Buffalo - $2.99 (down one cent since last week)
  • Ithaca - $2.93 (down 3 cents since last week)
  • Rochester - $2.94 (down one cent since last week)
  • Rome - $2.93 (down 3 cents since last week)
  • Syracuse - $2.90 (down 2 cents since last week)
  • Watertown - $3.02 (down one cent since last week)


Gas prices are down this week though motorists are still waiting for a large drop in prices that typically happens in the fall. Rising oil prices and tensions with Iran have affected gas prices this season. 


The latest Energy Information Administration data shows that domestic crude inventories are on the rise. Total crude inventories are at their highest level since late June. The larger-than-expected growth in crude levels has jolted the market, which had seen prices steadily rising due to concerns about U.S.-Saudi Arabia relations and upcoming U.S.-imposed sanctions on Iran’s crude exports. Iran is the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC). Sanctions are set to begin Nov. 4 as the United States tries to reduce Iranian oil exports to zero to force the country to renegotiate an agreement on its nuclear program.
With continued worries about global crude supply and demand this fall, more growth in total crude inventories could reduce concerns and push crude prices lower in coming weeks if the trend continues.
 

Motorists can always 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 WCNY wants to remind members that they 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.