Press releases from Automobile Association of America:
Today’s national average price for a gallon of gasoline is $4.52, down 16 cents from last week. One year ago, the price was $3.17. The New York State average is $4.69, down 11 cents since last Monday. A year ago, the NYS average was $3.20. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $4.62 (down 10 cents from last week)
- Buffalo - $4.68 (down 8 cents from last week)
- Elmira - $4.70 (down 9 cents from last week)
- Ithaca - $4.80 (down 6 cents from last week)
- Rochester - $4.77 (down 9 cents from last week)
- Rome - $4.82 (down 8 cents from last week)
- Syracuse - $4.73 (down 8 cents from last week)
- Watertown - $4.83 (down 7 cents from last week)
According to the latest data from the Energy Information Administration (EIA), gas demand tapered off over the past two weeks following the Independence Day holiday, while total domestic gas stocks increased. The lower demand, alongside cheaper oil prices, has helped to push pump prices down. If these supply/demand dynamics hold, drivers will likely continue to see price relief at the pump. This morning, oil prices are hovering around the $100 per barrel mark, which is down slightly compared to one week ago though prices did drop below $100 at one point last week.
Press release:
“We've seen the national average price of gasoline decline for a fifth straight week, with the pace of recent declines accelerating to some of the most significant we've seen in years. This trend is likely to reach a sixth straight week, with prices likely to fall again this week. Barring major hurricanes, outages or unexpected disruptions, I forecast the national average to fall to $3.99/gal by mid-August," said Patrick De Haan, head of petroleum analysis at GasBuddy. "So far, we've seen the national average drop for 34 straight days, with over 25,000 stations now back at $3.99 per gallon or less, and thousands more stations will join this week. In addition, we will see several states fall back under an average of $4, the majority being in the south, but that could spread to more states in the weeks ahead.”
