In Buffalo, the average price of a gallon of regular unleaded gasoline is now $2.43, while that same gallon of gas is $2.38 in Rochester.
The New York State average is $2.47 per gallon, down a penny from last week. A year ago, the NYS average was $1.97. The national average price for regular unleaded gasoline is unchanged from last week at $2.28 per gallon, 56 cents
Gas prices have remained relatively steady the past month due to a well-supplied crude oil market. Last week the Organization of the Exporting Petroleum Countries (OPEC) released their Monthly Oil Market Report showing that participating countries implemented 90 percent of the agreed upon production cuts, which took effect on January 1, 2017. Despite production cuts by OPEC, the market remains overfed due to increased U.S. drilling and production.
