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AAA: Gas prices drop across region

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Mon, Oct 22nd 2018 01:10 pm
Oil prices, tensions with Iran stall large drops in fall gas prices
By AAA of Western and Central New York
Today's national average price for a gallon of gasoline is $2.85, down 4 cents from last week. One year ago, the price was $2.46. The New York state average is $2.98 - down 2 cents from last week. A year ago, the state average was $2.65.
AAA Western and Central New York (AAA WCNY) reports the following averages:
  • Batavia - $2.94 (down 1 cent since last week)
  • Buffalo - $2.99 (down 1 cent since last week)
  • Ithaca - $2.93 (down 3 cents since last week)
  • Rochester - $2.94 (down 1 cent since last week)
  • Rome - $2.93 (down 3 cents since last week)
  • Syracuse - $2.90 (down 2 cents since last week)
  • Watertown - $3.02 (down 1 cent since last week)
Gas prices are down this week, though motorists are still waiting for a large drop in prices that typically happens in the fall. Rising oil prices and tensions with Iran have affected gas prices this season.
The latest Energy Information Administration data shows domestic crude inventories are on the rise. Total crude inventories are at their highest level since late June. The larger-than-expected growth in crude levels has jolted the market, which had seen prices steadily rising due to concerns about U.S.-Saudi Arabia relations and upcoming U.S.-imposed sanctions on Iran's crude exports. Iran is the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC). Sanctions are set to begin Nov. 4 as the U.S. tries to reduce Iranian oil exports to zero to force the country to renegotiate an agreement on its nuclear program.
With continued worries about global crude supply and demand this fall, more growth in total crude inventories could reduce concerns and push crude prices lower in coming weeks if the trend continues.
Motorists can always find current gas prices along their route with the free AAA mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel, and access AAA roadside assistance. Locate gas prices across the country at http://gasprices.aaa.com.
AAA WCNY reminds members they can receive discounts at NOCO gas stations, as well as Fastrac locations. Learn more HERE. One can find the lowest prices in the area at http://aaa.opisnet.com/index.aspx.
As Upstate New York's largest member services organization, AAA Western and Central New York provides more than 870,000 members with travel, insurance, financial and automotive related services. Since its founding in 1902, AAA has been a leading advocate for the safety and security of all travelers. Visit AAA at www.AAA.com.

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