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Motorists in Central New York are experiencing relief at the gas pump as fuel prices continue to fall. According to AAA, the average cost for a gallon of regular fuel in the region is now $2.98, marking a three-cent decrease from the previous week and a nine-cent drop compared to a month ago. The state average stands at $3.00, while the national average is slightly lower at $2.79.
The decline in prices comes as a welcome relief, especially for those who traveled during the holiday season. AAA reported that over 109 million Americans traveled at least 50 miles from home during the holiday period, yet gas prices remained below $3 since early December, making it the cheapest December at the pump since 2020.
According to AAA Northeast, the steady decline in prices is due to increased gasoline inventories, which have grown for seven consecutive weeks. The Energy Information Administration noted a 5.8 million barrel increase in gasoline supplies, contributing to the lower prices. Meanwhile, oil prices remain stable, ranging between $57 and $61 a barrel.
As the new year progresses, drivers in Central New York can expect to continue benefiting from lower fuel costs, easing the financial burden of everyday commutes and travel. For more detailed information on fuel prices, visit the AAA Gas Prices website.