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Tuesday, September 30, 2014
ENP STAFF REPORTS
news@eastniagarapost.com
Lockport area gas prices fell two cents this week, according to AAA East Central’s weekly Fuel Gauge report, which states that the average price of self-serve regular unleaded gasoline, based on reports from 20 stations in the Lockport area, was $3.602, down from $3.625 last week and $3.675 this time last year.
The average price for unleaded regular gasoline in New York was $3.615.
Less than one week into the autumn driving season, the national average price for regular unleaded gasoline has dropped to $3.333 per gallon, the lowest price since February, after falling for 21 of the past 24 days. Today’s average is fractions of a penny less than one week ago, 10 cents less than one month ago and seven cents less than one year ago.
Decreased demand, relatively lower crude prices and the cost savings associated with producing winter-blend fuel will likely keep downward pressure on the price for retail gasoline. Barring any major disruptions in supply, drivers are expected to see some of the lowest autumn prices since 2010.
Motorists in every state and Washington, D.C., continue to pay less for retail gasoline than one month ago. Year-over-year comparisons reflect overall savings for nearly all consumers.
Geopolitical events remain front of mind for market watchers, but in recent months have not translated into upward pressure on global oil markets. The price of West Texas Intermediate (WTI) crude oil did settle $1.03 higher at $94.57 per barrel at the close of Monday’s formal trading on the NYMEX, but prices remain near the 17-month low of $91.52 per barrel that was registered on September 22.
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news@eastniagarapost.com
The average price for unleaded regular gasoline in New York was $3.615.
Less than one week into the autumn driving season, the national average price for regular unleaded gasoline has dropped to $3.333 per gallon, the lowest price since February, after falling for 21 of the past 24 days. Today’s average is fractions of a penny less than one week ago, 10 cents less than one month ago and seven cents less than one year ago.
Decreased demand, relatively lower crude prices and the cost savings associated with producing winter-blend fuel will likely keep downward pressure on the price for retail gasoline. Barring any major disruptions in supply, drivers are expected to see some of the lowest autumn prices since 2010.
Motorists in every state and Washington, D.C., continue to pay less for retail gasoline than one month ago. Year-over-year comparisons reflect overall savings for nearly all consumers.
Geopolitical events remain front of mind for market watchers, but in recent months have not translated into upward pressure on global oil markets. The price of West Texas Intermediate (WTI) crude oil did settle $1.03 higher at $94.57 per barrel at the close of Monday’s formal trading on the NYMEX, but prices remain near the 17-month low of $91.52 per barrel that was registered on September 22.
Send an email to news@eastniagarapost.com with "email update" in the subject line.
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