Gas Prices Drop Again

Gas Prices Drop Again

Lower oil prices and demand bring pump prices down
Elizabeth Carey
Lower oil prices and demand bring pump prices down

Today’s national average price for a gallon of gasoline is $3.42, down seven cents from last Monday. One year ago, the price was $3.80. The New York State average is $3.70, down four cents from a week ago. A year ago, the NYS average was $3.87. AAA Western and Central New York (AAA WCNY) reports the following averages:

•    Batavia - $3.71 (down 4 cents from last Monday)
•    Buffalo - $3.74 (down 2 cents from last Monday)
•    Elmira - $3.49 (down 9 cents from last Monday)
•    Ithaca - $3.71 (down 4 cents from last Monday)
•    Rochester - $3.76 (down 3 cents from last Monday)
•    Rome - $3.69 (down 8 cents from last Monday)
•    Syracuse - $3.72 (down 3 cents from last Monday)
•    Watertown - $3.73 (down 5 cents from last Monday)

The national price for a gallon of gas dropped 13 cents in the past two weeks. The primary reasons are flat demand at the pump and lower costs for oil. Future prices could be impacted by global events, which impact oil prices, but for now, drivers will benefit from falling prices with every visit to the pump. 

According to the latest data from the Energy Information Administration (EIA), gas demand decreased slightly while total domestic gasoline stocks remained flat. Lower gas demand, alongside declining oil prices, has contributed to pushing pump prices down. If the price of oil remains low, drivers can expect to see further price drops.

Oil prices range from $82-$86 per barrel this morning, down a few dollars from last week.

There is mixed data when it comes to diesel prices. The national average price for diesel is $4.40, down seven cents from last Monday, and down from $5.33 a year ago. The New York average for diesel is $4.67, down one cent from a week ago, and lower than $5.89 one year ago. 

To conserve fuel, motorists should map routes, avoid peak traffic times like rush hour, and combine errands into one trip while using cruise control when possible. Drivers should also make sure tire pressure is at the vehicle’s recommended level for the best gas mileage while removing any unnecessary and bulky items from the car since it takes more fuel to accelerate a heavy vehicle. Get more tips here: https://gasprices.aaa.com/news/fuel-saving-tips/. Motorists can benefit from comparing pump prices before filling up with the AAA Mobile App for iPhone, iPad, and Android. 

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell. Learn more here. AAA members can save on gas by joining the Fuel Rewards at Shell program. Join now at AAA.com/Shell. Motorists can also locate gas prices across the country and stay up-to-date on news and fuel-saving tips at http://gasprices.AAA.com.