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Motorists in Central New York are experiencing a slight relief at the pump as gas prices have decreased. According to AAA, the average cost for a gallon of regular fuel is now $3.09, which is a penny less than last week and two cents lower than a month ago. The state average stands at $3.10, while the national average is $3.19.
The decrease in gas prices is attributed to supply and demand dynamics. As reported by AAA, the Organization of the Petroleum Exporting Countries (OPEC+) announced plans to increase oil production by more than 400,000 barrels a day next month, leading to a drop in crude oil prices. This oversupply, combined with a decrease in gasoline demand, has contributed to the lower prices at the pump.
In Watertown, New York, the average gas price is slightly higher at $3.11, reflecting a recent increase of four cents, as noted by InformNNY.com. Despite these fluctuations, current prices remain below last year's levels.