Gas Prices Continue to Drop

Gas Prices Continue to Drop

Low demand for fuel post-holiday
Elizabeth Carey
Low demand for fuel post-holiday

Today’s national average price for a gallon of gasoline is $3.08, down three cents from last Monday. One year ago, the price was $3.28. The New York State average is $3.32, down three cents from one week ago. A year ago, the NYS average was $3.45. AAA Western and Central New York (AAA WCNY) reports the following averages:

•    Batavia - $3.38 (down 2 cents from last Monday)
•    Buffalo - $3.45 (down 3 cents from last Monday)
•    Elmira - $3.10 (down 4 cents from last Monday)
•    Ithaca - $3.33 (down 6 cents from last Monday)
•    Rochester - $3.38 (down 6 cents from last Monday)
•    Rome - $3.35 (down 3 cents from last Monday)
•    Syracuse - $3.32 (down 5 cents from last Monday)
•    Watertown - $3.18 (down 2 cents from last Monday)

Gas prices continue to drop along with demand with fewer people fueling up after the peak of holiday road travel. According to the latest data from the Energy Information Administration (EIA), gas demand nosedived after holiday travel. Meanwhile, total domestic gasoline stocks increased substantially. Weak gas demand, alongside increased supply, has pushed pump prices lower. However, fluctuating oil prices have limited price decreases. If gas demand remains weak, drivers will likely continue to see pump prices trickle downward.  This morning, oil prices range from $73 to $78 per barrel.

Diesel prices are also moving lower. The national average price for diesel is $3.95, down three cents from one week ago, and down from $4.66 a year ago. The New York average for diesel is $4.44, down two cents from a week ago, and lower than $5.34 one year ago. 

To conserve fuel, motorists should map routes, avoid peak traffic times like rush hour, and combine errands into one trip while using cruise control when possible. Drivers should also make sure tire pressure is at the vehicle’s recommended level for the best gas mileage while removing any unnecessary and bulky items from the car since it takes more fuel to accelerate a heavy vehicle. Get more tips here: https://gasprices.aaa.com/news/fuel-saving-tips/. Motorists can benefit from comparing pump prices before filling up with the AAA Mobile App for iPhone, iPad, and Android. 

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell. Learn more here. AAA members can save on gas by joining the Fuel Rewards at Shell program. Join now at AAA.com/Shell. Motorists can also locate gas prices across the country and stay up-to-date on news and fuel-saving tips at http://gasprices.AAA.com.