Prices could continue to drop in coming weeks
Today’s national average price for a gallon of gasoline is $3.70, down 11 cents from last Monday. One year ago, the price was $3.91. The New York State average is $3.85, down four cents from a week ago. A year ago, the NYS average was $3.63. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $3.82 (no change from last Monday)
- Buffalo – $3.84 (down 2 cents from last Monday)
- Rochester – $3.87 (down 2 cents from last Monday)
National pump prices dropped significantly amid lower demand and a decrease in oil prices. This morning, oil is $85 to $86 per barrel.
According to the latest data from the Energy Information Administration (EIA), gas demand dropped sharply while total domestic gasoline stocks increased substantially. Growing supply, amid low demand, has pushed pump prices down. If oil prices continue to decline, drivers can expect further price drops at the pump in the weeks ahead.
There is mixed data when it comes to diesel prices. The national average price for diesel is $4.51 down five cents from last Monday, and down from $5.03 a year ago. The New York average for diesel is $4.73, down two cents from a week ago, but lower than $5.09 one year ago.
