NewsLocal News

Actions

AAA: Gas prices falling nationally and locally due to decreasing oil prices

GAS PRICES 3.jpg
Posted at 12:24 PM, Jul 11, 2022
and last updated 2022-07-11 12:24:02-04

BUFFALO, N.Y. (WKBW) — According to AAA Western and Central New York, gas prices are falling nationally and locally due to decreasing oil prices.

AAA said the national average price for a gallon of gasoline is $4.68, which is down 13 cents compared to last Monday. The New York State average is $4.80, which is down nine cents compared to last Monday. A year ago, the national average was $3.14 and the NYS average was $3.20.

AAA said oil prices have dropped due to concern regarding a potential slow or stall of economic growth due to rising interest rates and inflation.

"A lower economic growth rate than expected could cause crude demand to further decline, leading pump prices to follow suit. This morning, oil prices are at $103 to $105, down slightly from the $103 to $107 per barrel seen last Tuesday," a release says.

The following are averages throughout the state according to AAA:

  • Batavia - $4.72 (down 8 cents from last Tuesday)
  • Buffalo - $4.76 (down 5 cents from last Tuesday)
  • Elmira - $4.79 (down 8 cents from last Tuesday)
  • Ithaca - $4.86 (down 5 cents from last Tuesday)
  • Rochester - $4.86 (down 7 cents from last Tuesday)
  • Rome - $4.90 (down 5 cents from last Tuesday)
  • Syracuse - $4.81 (down 7 cents from last Tuesday)
  • Watertown - $4.90 (down 3 cents from last Tuesday)