National Average On Track to Drop Below $3 Soon

National Average On Track to Drop Below $3 Soon

Low oil costs and tepid gas demand allow pump prices to drop
Valerie Puma
Low oil costs and tepid gas demand allow pump prices to drop

The national average price for a gallon of gasoline is $3.10, down three cents from last Monday. One year ago, the price was $3.42. The New York State average is $3.18, down two cents from last Monday. A year ago, the NYS average was $3.15. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $3.30 (down 2 cents from last Monday)
  • Buffalo - $3.269 (down 3 cents from last Monday)
  • Elmira - $3.13 (down 1 cent from last Monday)
  • Ithaca - $3.38 (down 2 cents from last Monday)
  • Rochester - $3.32 (down 2 cents from last Monday)
  • Rome - $3.32 (down 1 cent from last Monday)
  • Syracuse - $3.21 (down 1 cent from last Monday)
  • Watertown - $3.15 (no change from last Monday)

After a brief interruption caused by Hurricanes Helene and Milton, gas prices have resumed their gradual season decline and is only about seven cents away from the nation average’s 2024 low. According to new data from the Energy Information Administration (EIA), gas demand rose slightly while total domestic stocks fell and gasoline production decreased. This morning, oil trading is in the low $70s per barrel. With low oil costs and tepid domestic gasoline demand, pump prices could continue to drop and find a national average below $3 soon.

When it comes to EV charging, the national and state averages for L2 commercial electricity remain steady. The national average for a kilowatt of electricity at an L2 commercial charging station has dipped by a penny down to 34 cents. An estimated 1.2 million AAA members live in households with one or more electric vehicles.

For drivers who use diesel fuel, the national average price for diesel is $3.55, down two cents from last Monday. The New York average is $3.89, down one cent from last Monday.

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.