Today’s national average price for a gallon of gasoline is $3.15, down nine cents from last Monday. One year ago, the price was $3.28. The New York State average is $3.48, down five cents from a week ago. A year ago, the NYS average was $3.61. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $3.54 (down 1 cent from last Monday)
- Buffalo – $3.58 (down 5 cents from last Monday)
- Rochester – $3.56 (down 5 cents from last Monday)
After a slight pause, gas prices moved steadily lower over the last week with the national average trimming nine cents to $3.15 for a gallon of regular. Lower oil prices continue to drive the decline as the average price for a barrel of oil has fallen from the $80s into the low $70s where it stands this morning. The falling price comes just over a week after OPEC+ announced voluntary production cuts of about 2 million barrels a day.
According to the latest data from the Energy Information Administration (EIA), gas demand increased slightly last week while the domestic supply rose significantly by over 5 million barrels of crude. Supply growth has helped push pump prices lower. If oil prices remain low, drivers can expect gas prices to follow suit during the holiday season.
Diesel prices are also dropping. The national average price for diesel is $4.10, down nine cents from last Monday, and down from $4.94 a year ago. The New York average for diesel is $4.55, down four cents from a week ago, and lower than $5.64 one year ago.
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