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Gas prices decline amid record production

Gas prices decline amid record production
Posted at 6:35 AM, May 15, 2017
and last updated 2017-05-15 06:35:01-04

Gas prices are expected to continue falling headed into the next week.

According to AAA, the national average for regular is $2.33 per gallon, down by about one cent from last week. Here in New York, prices are also down by one cent - now at $2.50 per gallon. Prices in Buffalo are slightly lower, averaging $2.43 per gallon. Last week's average was $2.45.

The price drop can be attributed to record high refinery production, moderate demand, and a recent decline in crude oil prices, experts say.