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AAA reports that gas prices in Central New York are lower than they were at this time last year. The average price for a gallon of regular fuel in the region is $3.09, which is a decrease of seven cents compared to the same period in 2024. However, prices have risen slightly, by two cents in the past week and four cents over the last month.
The current state average for gas in New York is $3.14 per gallon, while the national average stands at $3.05. According to CNY Central, these changes come as many people prepare to travel for Thanksgiving, with AAA projecting that nearly 90 percent of Thanksgiving travelers will drive.
AAA attributes the decline in gas prices to a drop in crude oil costs and the end of refinery maintenance, which allows for increased fuel production. Patrick de Haan, head of petroleum analysis at GasBuddy, noted that the global benchmark price of Brent crude oil has fallen about 17% since June, as reported by ABC7NY.
Despite the increase in travel demand during Thanksgiving week, overall gas demand remains low, which helps keep prices down. Looking ahead, gas prices may continue to decrease as supply grows and demand eases during the winter months.