The statewide average price for a gallon of gas is down three cents compared to one week ago. According to AAA of Western and Central New York, the New York State average on Monday is $3.89. The national average is down four cents from one week ago to $3.81 per gallon.
AAA says the slow descent is due to the high cost of oil, which is the main ingredient in gasoline. Monday morning, oil prices were in the low $90s per barrel.
According to the latest data from the Energy Information Administration (EIA), gas demand rose slightly, however, it is below last year’s rate. Meanwhile, total domestic gasoline stocks increased. Growing supply, amid slower demand, has pushed prices lower. Still, fluctuating oil prices have limited seasonal price decreases typically seen as the country settles into the lower-demand fall driving season.
There is mixed data when it comes to diesel prices. The national average price for diesel is $4.56 down one cent from last Monday, and down from $4.87 a year ago. The New York average for diesel is $4.75, up one cent from a week ago, but lower than $5.00 one year ago.
