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Gas prices drop in most regions as growing gasoline stocks push pump prices down

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Mon, Sep 30th 2019 07:05 pm

By AAA of Western and Central New York

Today’s national average price for a gallon of gasoline is $2.65, down 2 cents since last week. One year ago, the price was $2.88. The New York state average is $2.74, down a penny from last week. A year ago, the state average was $2.99.

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

  • Batavia - $2.71 (no change since last week)
  • Buffalo - $2.70 (down 2 cents since last week)
  • Ithaca - $2.68 (down 1 cent since last week)
  • Rochester - $2.73 (down 2 cents since last week)
  • Rome - $2.73 (down 1 cent since last week)
  • Syracuse - $2.63 (down 2 cents since last week)
  • Watertown - $2.70 (down 4 cents since last week)

At the close of Friday’s formal trading session on the NYMEX, WTI decreased by 50 cents to settle at $55.91. Oil prices were mostly mixed last week after Energy Information Administration’s weekly report revealed total domestic crude inventories grew. The current level is 23.5 million barrels higher than this time last year. The higher level has kept gas prices in check after concerns that global crude demand may be impacted by the ongoing trade war between the U.S. and China, and global supply could be reduced due to escalating tension in the Middle East. Growing gasoline stocks are putting downward pressure on pump prices.

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell locations across the country. Learn more here. One can find the lowest prices in the area at http://aaa.opisnet.com/index.aspx. 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.

As upstate New York’s largest member services organization, AAA Western and Central New York provides more than 880,000 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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