Pump Prices Move Lower

Pump Prices Move Lower

Price at pump falls as supply chain recovers from Hurricane Milton
Mark Gruba
Price at pump falls as supply chain recovers from Hurricane Milton

The national average price for a gallon of gasoline is $3.18, down two cents from last Monday. One year ago, the price was $3.55. The New York State average is $3.22, down two cents from last Monday. A year ago, the NYS average was $3.78. AAA Western and Central New York (AAA WCNY) reports the following averages:

•    Batavia - $3.34 (down 4 cents from last Monday)
•    Buffalo - $3.33 (down 1 cent from last Monday)
•    Elmira - $3.13 (down 2 cents from last Monday)
•    Ithaca - $3.41 (down 5 cents from last Monday)
•    Rochester - $3.37 (down 1 cent from last Monday)
•    Rome - $3.34 (down 1 cent from last Monday)
•    Syracuse - $3.23 (down 3 cents from last Monday)
•    Watertown - $3.19 (down 3 cents from last Monday)

After a brief upturn in the aftermath of Hurricane Milton, gas prices have resumed their decline at the national and local level. The hurricane disrupted the supply chain in some parts of the country, but those issues have been largely resolved over the last week. The supply of gasoline remains strong as Hurricane Milton did not severely impact production facilities in the Gulf of Mexico.

While tensions in the Middle East persist, oil prices are retreating as well. This morning oil is trading in the low $70s per barrel. According to new data from the Energy Information Administration (EIA), gas demand fell while total domestic stocks also fell over the last week. That drop is likely short-lived, however, as gasoline production continues to increase. The arrival of cheaper winter-blend gasoline is also taking pressure off pump prices.

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 sits at 35 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 $3.59, down one cent from last Monday. The New York average is $3.92, 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.