The price of gas continues to decline slightly, according to AAA.
The average price of a gallon of gas in Rochester, Ithaca, and Syracuse was down one and two cents respectively from last week’s assessment.
The national average is $3.44, which is down three cents from last week. The state’s average is also $3.44, down two cents from last week.
Global oil prices plunged into the low to mid $60 per barrel range last week, a level not seen since August 2021. Given that the cost of oil accounts for 55% of what we pay for gas, lower oil prices should bring pump prices down.
That said, gas stations paid for the fuel that is in their underground tanks weeks ago, when oil was nearly $15 more a barrel.
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