In a refreshing start to the week, AAA Western and Central New York announced a continued downward trend in gas prices, which is anticipated to persist in the upcoming weeks.
Specifically in the Finger Lakes region, the average cost stands at $3.85 per gallon, marking a three-cent drop from the previous week. Statewide, the average gas price has decreased by four cents, mirroring the prices in central New York.
The most significant decline is noted at the national level, with the current average at $3.70—a significant 11-cent drop compared to last week. Within New York, various cities have reported decreased prices, including Elmira, Ithaca, Rochester, Rome, Syracuse, and Watertown, with reductions ranging from two to three cents.
While the national diesel average has fallen by five cents to $4.51, New York’s average is higher at $4.73, albeit a two-cent decrease from the previous week. Recent data from the Energy Information Administration indicates a steep fall in gas demand as domestic gasoline stocks soared. As a result of this high supply and dwindling demand, pump prices have been on the decline. If this pattern persists, experts predict even more substantial savings for drivers in the near future.
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