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Monday, December 8, 2014
ENP STAFF REPORTS
news@eastniagarapost.com
Lockport area gas prices dropped another four cents this week, according to AAA East Central’s weekly Fuel Gauge report. The average price of self-serve regular unleaded gasoline, based on reports from 22 stations in the Lockport area, was $3.155, down from $3.195 last week and $3.629 this time last year.
The average price for unleaded regular gasoline in New York today is $3.079.
Today’s national average of $2.67 per gallon is the least expensive since Feb. 23, 2010. The national average has dropped a dime from one week ago, 27 cents from one month ago and 60 cents per gallon from the same date last year.
The average price for retail gasoline historically declines from fall into winter due to a number of factors including decreased demand. Consumers can expect to see the price at the pump tick lower as we approach the New Year, however, crude oil would have to fall by another $25 to $30 per barrel to cause the national average to drop below the $2.00 per gallon threshold this winter, which remains unlikely. The price of oil accounts for approximately two-thirds of the price at the pump, and a $10 per barrel drop in the price of crude oil results in about a 25-cent drop in retail prices for motorists.
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news@eastniagarapost.com
The average price for unleaded regular gasoline in New York today is $3.079.
Today’s national average of $2.67 per gallon is the least expensive since Feb. 23, 2010. The national average has dropped a dime from one week ago, 27 cents from one month ago and 60 cents per gallon from the same date last year.
The average price for retail gasoline historically declines from fall into winter due to a number of factors including decreased demand. Consumers can expect to see the price at the pump tick lower as we approach the New Year, however, crude oil would have to fall by another $25 to $30 per barrel to cause the national average to drop below the $2.00 per gallon threshold this winter, which remains unlikely. The price of oil accounts for approximately two-thirds of the price at the pump, and a $10 per barrel drop in the price of crude oil results in about a 25-cent drop in retail prices for motorists.
Send an email to news@eastniagarapost.com with "email update" in the subject line.
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