AAA on Monday reported the New York State average price for a gallon of gasoline is $3.16, down two cents from last Monday. One year ago, the average was $3.66.
According to AAA, faced with a rare November Tropical Storm in the Gulf of Mexico, the national average for a gallon of gasoline fell by only two cents since last Monday to $3.08. Gas prices often freeze as a storm enters the gulf and oil production and refining are threatened, but once Tropical Storm Rafael passes, pump prices should soon regain their downward momentum. On Monday, oil trading was 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.
For drivers who use diesel fuel, the New York average is $3.87, down two cents from last Monday.
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