While the national average price for regular unleaded gasoline remains unchanged at $2.27 per gallon, local prices saw moderate declines, according to AAA Western and Central New York.
In Buffalo, the price of a gallon is $2.45, down a penny from a week ago. In Rochester, the price of $2.41 is down three cents from a week ago. The New York State average is $2.49 per gallon, down one cent from last week.
Markets closed Friday after posting slight crude oil gains following positive reports of OPEC’s January production cuts. Reuters released a survey showing that OPEC oil production declined by 1 million barrels per day, to a total of 32.3 million barrels per day in January, suggesting that about 80 percent of the production cuts agreed to late last year had been implemented. Traders will continue to keep an eye on OPEC’s production cuts and the response of U.S. companies.
