Favorable oil prices helping drivers save money
Today’s national average price for a gallon of gasoline is $3.37, down 4 cents since last Monday. One year ago, the price was $3.60. The New York State average is $3.45, down 4 cents since last Monday. A year ago, the NYS average was $3.80. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $3.36 (down one cent from last Monday)
- Buffalo – $3.38 (down 2 cents from last Monday)
- Rochester – $3.44 (down 2 cents from last Monday)
The national average for a gallon of gas is down once again this week while prices in New York have fallen slightly across the board. Favorable oil prices continue to keep prices at the pump falling. This morning oil prices range from $77 to $83 per barrel, consistent with a week ago and well off the highs we saw last year.
Diesel prices are also falling. The national average price for a gallon of diesel is $4.41, down 8 cents from a week ago. Here in New York the current average for diesel is $5.05, down 8 cents from last week.
According to new data from the Energy Information Administration (EIA), gas demand rose slightly from 8.27 million to 8.91 million b/d last week. Meanwhile, total domestic gasoline stocks decreased by 1.8 million bbl to 240.1 million bbl last week. If gas demand rises amid falling domestic stocks, drivers may see an end to future pump price drops.
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