The New York State average for a gallon of gasoline is $3.22, down two cents from last Monday.
According to AAA of Western and Central New York, gas prices have resumed their decline at the national and local level after a brief upturn in the aftermath of Hurricane Milton. 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. Monday morning oil was 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.
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.
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