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Gas prices in Central New York are continuing to fall, providing relief for motorists. According to AAA, the average cost for a gallon of regular fuel in the region is now $3.06, down four cents from last week and three cents from a month ago. The state average is slightly higher at $3.09, while the national average stands at $3.15.
The decrease in gas prices is largely attributed to lower demand and a drop in crude oil prices. As reported by CNY Central, the end of the spring break season and low crude oil prices have contributed to this trend. The U.S. Energy Information Administration (EIA) noted that gasoline demand decreased slightly, and crude oil production is expected to increase, leading to an oversupply.
Patrick De Haan, Head of Petroleum Analysis at GasBuddy, explained that the decline is also influenced by U.S. tariffs and OPEC+ increasing oil production faster than expected. He mentioned that gas prices typically peak around April 10, suggesting that the worst may be over for 2025.
While gas prices are falling across most regions, the West Coast experienced a slight increase. However, with oil prices at their lowest since the early days of the pandemic, prices are expected to continue declining. According to Automotive Fleet, fleets and motorists can anticipate lower gas prices nationwide as supply rises.
For those using diesel, the national average price is $3.56, with New York's average at $3.90. As summer approaches, drivers can expect more affordable travel options due to these declining gas prices.