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Gas prices continue to drop after Thanksgiving: Will it continue?

  • / Updated
  • Staff Report 

Good news if you’re hitting the road now that the Thanksgiving holiday is behind us.

Gas prices continue to drop across Western and Central New York, according to AAA.

The new report released Monday showed that the average price of a gallon of gas is down 11 cents from a week ago.

Finger Lakes Partners (Billboard)

In the Rochester area it was $3.76, which is four cents lower than a week ago. In the Syracuse area it was $3.73 per gallon, which is also four cents lower.

No region in the state saw an increase in last week’s analysis.

The decrease was attributed to oil prices. Monday’s oil prices are anywhere between $74 to $81 a barrel — a drop from last week when the prices ranged from $80 to $87 a barrel.

How low could it go?

“All the metrics look very positive for motorists as this week is likely to continue seeing falling gasoline prices, with many areas falling to the lowest level since Russia’s invasion of Ukraine in February,” said Patrick De Haan, the head of petroleum analysis at GasBuddy. “It’s entirely possible the national average price of gasoline could fall under $3 per gallon by Christmas, which would be a huge gift to unwrap for motorists after a dizzying year at the pump.”

Categories: New York StateNews