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Central New York drivers are experiencing steady gas prices, with the current average cost for a gallon of regular gas holding at $3.06. According to AAA, this price remains unchanged from last week and is five cents lower than one month ago. The state average is slightly higher at $3.10, while the national average is $3.16.
AAA attributes the stability in gas prices to economic concerns and a recent decision by oil-producing companies to increase output. These factors have helped maintain consistent prices at the pump, despite fluctuations in other regions.
The Energy Information Administration (EIA) reports that gasoline demand has slightly increased, while total domestic gasoline supply has decreased. Despite these changes, gasoline production has risen, averaging 9.4 million barrels per day.
As summer approaches, AAA suggests that drivers may continue to see stable or even lower prices due to softer demand and lower crude oil prices. The organization continues to monitor the situation and provides updates on gas prices and trends.