Gasoline prices have now fallen for 24 straight days and registered their lowest price for yesterday’s Independence Day holiday since 2005. Today’s national average price for regular unleaded gasoline is $2.27 per gallon. The New York State average is $2.42 per gallon, a penny cheaper than last week.
While Buffalo’s cost-per-gallon remains unchanged from a week ago at $2.40, the price in Rochester dropped a penny to $2.36.
AAA of Western and Central New York says a rebounding economy and gas prices reflecting substantial yearly savings are contributing to gasoline demand and vehicle miles traveled that are both on track to set all-time highs for 2016.
While prices may continue to slide through the month of July, further refinery issues, stronger than anticipated economic growth, geopolitical tensions overseas or hurricanes here at home that impact distribution and production all have the potential to reverse this trend and see prices again turn higher again.
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