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Gas Prices Drop Slightly


According to AAA, Monday’s national average price for a gallon of gasoline is $3.44, the same as last Monday. One year ago, the price was $4.24. The New York State average is $3.42, down 2 cents since last Monday. A year ago, the state average was $4.35.

Spring has sprung with gas demand surging as motorists took advantage of better-driving weather in many parts of the country, and travelers headed out for spring break. But fears of a recession caused global oil prices to hover near $70 a barrel, mitigating a rise in gas prices. According to the Energy Information Administration (EIA), gas demand increased while total domestic gasoline stocks decreased significantly. Increasing demand amid tighter supply would typically push pump prices higher; however, recent lower oil prices have helped keep gas prices down. Monday morning oil prices ranged from $69 to $75 per barrel, up from $65 to $70 per barrel, but down considerably from one year ago.

Diesel prices continue to fall. The national average price for a gallon of diesel is $4.24, down 5 cents from a week ago. Here in New York, the current average for diesel is $4.89, down 3 cents from last week.

To find the cheapest gas prices in the Finger Lakes, click here

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