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Central New York drivers are experiencing a slight decrease in gas prices, with the average cost for a gallon of regular fuel now at $3.07. This is a one-cent drop from last week, although it remains two cents higher than prices a month ago. The state average stands at $3.11 per gallon, while the national average has dipped below $3 for the first time in four years, currently at $2.95, according to AAA.
The decrease in prices is attributed to a drop in demand and the transition to winter-blend gasoline, which is cheaper to produce. AAA Western and Central New York reports that the current stability in gas prices is due to a robust crude oil supply and a potential production increase by OPEC+ in the coming days. These factors, combined with some U.S. refineries going offline for seasonal maintenance, are keeping pump prices relatively low.
As the holiday season approaches, drivers in Central New York can expect prices to remain stable, barring any significant changes in oil production or demand. AAA notes that the current trend is a positive indicator for consumers looking to travel during the holidays.