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Gas prices continue to fall across the country

Posted at 8:46 AM, Dec 17, 2018
and last updated 2018-12-17 08:46:10-05

BUFFALO, N.Y. (WKBW) — The national average for a gallon of regular unleaded gasoline dropped five cents over the past week, bringing prices at the pump to their lowest point of 2018.

AAA of Western and Central New York reports the national average is $2.37. One year ago, the national average was $2.43. The New York State average is significantly higher at $2.70, down four cents from last week and seven cents lower than the price a year ago.

Locally, AAA reports the following averages:

  • Batavia - $2.74 (down 7 cents since last week)
  • Buffalo - $2.77 (down 6 cents since last week)
  • Ithaca - $2.55 (down 6 cents since last week)
  • Rochester - $2.67 (down 5 cents since last week)
  • Rome - $2.69 (down 5 cents since last week)
  • Syracuse - $2.58 (down 4 cents since last week)
  • Watertown - $2.84 (down 3 cents since last week)

AAA says the price drop can be attributed to cheaper-to-produce winter-blend gasoline, low demand for gasoline and low crude oil prices. However, AAA estimates that falling domestic inventories and OPEC's recent reduction agreement for 2019 could cause crude oil prices to increase. If this happens, motorists will likely see prices at the pump increase during the first quarter of 2019.

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