Press release from AAA:
Today’s national average price for a gallon of gasoline is $3.29, down two cents from last week. One year ago, the price was $2.25. The New York State average is $3.50, down one cent from last week. A year ago, the NYS average was $2.32. AAA Western and Central New York (AAA WCNY) reports the following averages from last week:)
- Buffalo - $3.45 (down one cent from last week)
- Ithaca - $3.50 (no change from last week)
- Rochester - $3.50 (down one cent from last week)
- Rome - $3.52 (down one cent from last week)
- Syracuse - $3.46 (down one cent from last week)
- Watertown - $3.50 (down four cents from last week)
Despite increased demand with holiday travelers, national gas prices are down two cents from last week. Oil prices are now fluctuating in the $70s, and if oil prices go up, gas prices usually follow. January typically brings the cheapest prices of the year with a drop in demand amid winter weather.
From Gas Buddy:
"Nearly every state saw average gasoline prices decline last week as millions of Americans took to the road for holiday travel, with the national average now nearly 20 cents per gallon lower than in early November. While the fall in prices is welcomed, we set an ugly new record for the holiday- it was the most expensive Christmas Day we've ever seen by two tenths of a penny," said Patrick De Haan, head of petroleum analysis for GasBuddy. "The average on Christmas was $3.264 per gallon, just a fraction of a penny higher than Christmas Day 2013 which saw the national average at $3.262 per gallon. Motorists shouldn't get too worked up about it - the downward direction in gas prices should persist into this week in most areas. However, gas prices are likely to jump in the Great Lakes due to a behavior called price cycling, caused by a rise in the wholesale price of gasoline against a backdrop of prices in the region that have now fallen under replacement cost. This will trigger a likely jump in gas prices in Michigan, Indiana, Ohio, Illinois and Kentucky very soon."
