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Gas prices stable as U.S. production increases

Gas prices stable as U.S. production increases
Posted at 6:33 AM, Mar 20, 2017
and last updated 2017-03-20 06:33:22-04

The price of gasoline is down once cent from last week. The national average for regular unleaded is $2.29 per gallon.

The New York state average is still sitting at $2.43 per gallon. And in Western New York, prices have also fallen one cent, to $2.40.

But there are a few factors that could cause prices to increase in the near future. OPEC members have been discussing the possibility of extending oil production cuts to raise prices again, according to AAA. Many refineries will also need to temporarily shut down for maintenance over the next few weeks.

AAA also says that by May, those refineries will need to switch over to the move expensive summer blend of gasoline.