STAFF REPORTS
news@allwnynews.com


Gasoline prices in Rochester and Buffalo are down a penny this week to $2.34 and $2.40 respectively, according to AAA of Western and Central New York.

The national average price for regular unleaded gasoline is also down one cent from last week to $2.29 per gallon. One year ago, the price was $1.98. The New York State average remains at $2.43 per gallon, no change from last week. A year ago, the NYS average was $2.05.

Markets closed Friday trading slightly higher. Conversations swirled following comments from the Saudi Energy Minister Khalid al-Falih, that OPEC would be willing to extend production cuts beyond the six-month agreement, especially if global inventories stay bloated. The energy minister’s comments gave little support to the market as the OPEC production freeze continues to be diluted by increased U.S. production. Oil service company, Baker Hughes, reported that the U.S. rig count increased again this week when producers added 14 drilling rigs in the United States. Traders will continue to watch whether OPEC and non-OPEC members make moves to further cut production in an attempt to balance the global oil supply.



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