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AAA: Gas prices continue to drop; increases likely in 2019

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Mon, Dec 17th 2018 12:00 pm

Today’s national average price for a gallon of gasoline is $2.37, down 5 cents from last week. One year ago, the price was $2.43. The New York state average is $2.70 – down 4 cents from last week. A year ago, the state average was $2.63.

AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $2.74 (down 7 cents since last week)
  • Buffalo - $2.77 (down 6 cents since last week)
  • Ithaca - $2.55 (down 6 cents since last week)
  • Rochester - $2.67 (down 5 cents since last week)
  • Rome - $2.69 (down 5 cents since last week)
  • Syracuse - $2.58 (down 4 cents since last week)
  • Watertown - $2.84 (down 3 cents since last week)

Cheaper-to-produce winter blend gasoline, low demand for gasoline and low oil prices have all contributed to pump prices reaching their lowest point of the year. In the latest weekly petroleum report from the Energy Information Administration (EIA), gasoline demand increased slightly to 9 million b/d last week, which is approximately 100,000 b/d less than the rate at this time last year. Additionally, EIA reported total gasoline stocks across the country increased slightly to 228.3 million bbl last week.

With domestic inventories now falling and OPEC’s production reduction agreement for 2019, crude prices could increase. If this proves true, then motorists will likely see pump prices increase during the first quarter of 2019.

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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