AAA of Western and Central New York reports Monday’s national average price for a gallon of gasoline is $3.42, down seven cents from October 30th. One year ago, the price was $3.80. The New York State average is $3.70, down four cents from a week ago. A year ago, the NYS average was $3.87.
The national price for a gallon of gas dropped 13 cents in the past two weeks. The primary reasons are flat demand at the pump and lower costs for oil. Future prices could be impacted by global events, which impact oil prices, but for now, drivers will benefit from falling prices with every visit to the pump.
According to the latest data from the Energy Information Administration (EIA), gas demand decreased slightly while total domestic gasoline stocks remained flat. Lower gas demand, alongside declining oil prices, has contributed to pushing pump prices down. If the price of oil remains low, drivers can expect to see further price drops.
Oil prices ranged from $82-$86 per barrel Monday morning, down a few dollars from last week.
There is mixed data when it comes to diesel prices. The national average price for diesel is $4.40, down seven cents from last Monday, and down from $5.33 a year ago. The New York average for diesel is $4.67, down one cent from a week ago, and lower than $5.89 one year ago.
