As of Monday, May 13th, the national average price for a gallon of gasoline dropped to $3.62, a slight decrease of three cents from the previous week, according to AAA. This decline marks a continuing trend of lower gas prices following a significant increase in April. Comparatively, last year at this time, the average was slightly lower at $3.54 per gallon.
In New York State, the average price stands at $3.72 per gallon, down one cent from last week, reflecting a slight increase from the $3.67 average a year ago. Regionally, prices varied, with Elmira seeing a notable decrease of four cents, while Buffalo’s prices rose by one cent. Other cities like Batavia, Ithaca, and Rochester saw no changes from the previous week.
The stabilization in gasoline prices is attributed to steady oil prices, currently ranging between $78 and $82 a barrel, and moderate fluctuations in gas demand and supply. This equilibrium is expected to maintain relatively stable gas prices as the Memorial Day weekend approaches. Diesel prices have also seen a decrease, with the national average now at $3.93 per gallon, down four cents from last week.
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