Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.18, the same for two weeks. One year ago, the price was $2.66. The New York State average is $2.26 – also the same for the last two weeks. A year ago, the NYS average was $2.85. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.22 (down 2 cents since last week)
- Buffalo -- $2.18 (down 2 cents since last week)
- Ithaca -- $2.18 (no change since last week)
- Rochester -- $2.22 (down 1 cent since last week)
- Rome -- $2.30 (up 1 cent since last week)
- Syracuse -- $2.18 (down 1 cent since last week)
- Watertown -- $2.28 (no change since last week)
The Energy Information Administration (EIA) released their new weekly report and revealed that gas demand fell. This decreasing demand for gasoline has helped pump prices stabilize, and if demand continues to drop, pump prices could push cheaper in the coming week.
From GasBuddy:
"Gas prices have remained in very familiar territory for the sixth-straight week as gasoline demand fell slightly last week, keeping oil prices confined as forces prevent it from falling under $39 but also from breaching $42 per barrel," said Patrick De Haan, head of petroleum analysis for GasBuddy.
"However, as summer begins to fade, demand recovery may be limited, and there's a possibility we may see more downside potential in the last quarter of the year. Traditionally, gasoline demand weakens into the autumn, and as the coronavirus situation keeps more kids home and more parents from work, we may see a drop in gas prices as we progress through fall.
"However, since no one can predict when we may rebound from the coronavirus situation, nothing long term is set in stone, but we are on track for a seventh-straight week of stable gas prices."
