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Gas prices in Central New York have increased slightly after a period of decline. According to Triple A, the average cost for a gallon of regular fuel is now $3.07, which is up by one cent from last week. However, this is still two cents less than the price motorists were paying a month ago. The state average is currently at $3.13 per gallon, while the national average is also $3.07.
As reported by CNY Central, gas prices have generally been stable due to a combination of factors. The demand for gasoline has decreased, and gas stations have switched to winter-blend gasoline, which is cheaper to produce. Additionally, the crude oil supply remains robust, with oil prices steady in the low to mid $60s per barrel.
The Organization of the Petroleum Exporting Countries Plus (OPEC+) is expected to announce another production increase soon, which may further influence gas prices. Despite some U.S. refineries going offline for seasonal maintenance, the surplus in supply and weaker demand have helped keep prices relatively stable.