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NY Gas Prices Drop By A Penny


For the second straight week, the average price for a gallon of gas in New York dropped by a penny. The price at the pump at the start of the work week is $3.66 per gallon. The national average price of $3.54 a gallon is unchanged from a week ago.

AAA cites that the reason for the steady prices in the last two weeks is a decline in demand and the low cost of oil. It’s possible this is merely the lull before Memorial Day, but it could be a trend that lingers into summer – only time will tell. AAA expects travel for Memorial Day weekend to be strong with 42.3 million people traveling, and nearly 88 percent of them will be driving to their destinations.

According to data from the Energy Information Administration (EIA), gas demand is down. Demand will likely increase for the holiday weekend and pump prices may increase. Monday morning oil prices were still in the $70s per barrel, which is very low.

Diesel prices dipped slightly. The national average price for a gallon of diesel is $3.98, down three cents from a week ago. Here in New York, the current average for diesel is $4.59, down four cents from last week.

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