AAA reported the national average price for a gallon of gasoline on Monday is $3.55, three cents lower than last Monday. One year ago, the price was $4.85. The New York State average is $3.70, down one cent since last Monday. A year ago, the NYS average was $4.87.
Lower demand for gasoline has moved the national average for a gallon of gas slightly down over the last week. As demand dips the cost of oil is climbing as Saudi Arabia announced a cut in production. Oil prices were up over a dollar Monday morning but, still well in the low $70s on average for a barrel and that is helping keep the overall cost of gas down as well. According to the latest data from the EIA, Energy Information Administration, gas supply is down slightly as well but drivers are not seeing higher prices at the pump.
On average, drivers across the country and in New York are paying over a dollar less for gas than they did a year ago this week.
Diesel prices continue to fall. The national average price for a gallon of diesel is $3.92, down three cents from a week ago. Here in New York, the current average for diesel is $4.53, down two cents from last week.
