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Gas prices fall slightly in Buffalo over the last week

Gas prices fall slightly in Buffalo
Posted at 6:16 AM, Mar 12, 2018
and last updated 2018-03-12 06:16:56-04

Buffalonians are paying a little less for gas this week. According to GasBuddy, prices fell about 2.4 cents on average to about $2.60 per gallon as of Sunday.

That price is still about nine cents higher than the national average. Over the last month, prices have fallen an average of five cents a gallon. But the downside is that people in Buffalo are paying more than 20 cents more per gallon than they were exactly one year ago. 

The Rochester and Syracuse areas also both saw slight drops in price: by about four and two cents respectively.

GasBuddy analysts say the direction prices will head is up in the air at this point.

"Oil prices remain volatile yet several dollars off recent highs. Gasoline prices remain in somewhat of a limbo as a result, with a mixed bag at pumps across the United States," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Thus far, we have seen a market that's lacked solid upward movement when it usually sees exactly that. This could lend weight to oil prices being too high, but at the same time, we continue to see if any major disruptions occur at U.S. refineries to offset any devaluation in the price of oil. So far the balance is in the middle, but threats remain in the months ahead- we're still expecting a surge, so motorists aren't off the hook by any means yet."