Oil prices and demand determine future gas costs
By AAA of Western and Central New York
Today’s national average price for a gallon of gasoline is $3.68, down 4 cents from one week ago. One year ago, the price was $3.19. The New York state average is $3.78, down 11 cents since last Monday. A year ago, the NYS average was $3.28.
AAA Western and Central New York (AAA WCNY) reports the following averages:
Gas prices in every region of Western and Central New York have dropped below the $4 mark, offering some relief to drivers. The decline in prices comes as demand for gasoline decreases. However, fluctuating oil prices could put the brakes on gas discounts. As of Sept. 12, oil prices range from $84 to $90 per barrel. If oil prices begin to rise, pump prices would likely follow.
Another example of instability came last week when the Consumer Price Index showed that inflation remains stronger than expected. This sparked market fears that the Federal Reserve could take more drastic measures that could lead to a recession, which would likely lead to a drop in crude demand and prices.
To conserve fuel, motorists should map routes, avoid peak traffic times like rush hour, and combine errands into one trip while using cruise control when possible. Drivers should also make sure tire pressure is at the vehicle’s recommended level for the best gas mileage, while removing any unnecessary and bulky items from the car – since it takes more fuel to accelerate a heavy vehicle. Get more tips here: https://gasprices.aaa.com/news/fuel-saving-tips/. Motorists can benefit from comparing pump prices before filling up with the AAA mobile app for iPhone, iPad and Android.
AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell. Learn more here. AAA members can save on gas by joining the Fuel Rewards at Shell program. Join at AAA.com/Shell. Motorists can also locate gas prices across the country and stay up-to-date on the latest news and fuel-saving tips at http://gasprices.aaa.com.
As upstate New York’s largest member services organization, AAA Western and Central New York provides more than 887,000 members with travel, insurance, financial and automotive-related services. Since its founding in 1900, AAA has been a leading advocate for the safety and security of all travelers. Visit AAA at www.AAA.com.