Gas prices drop 5 cents in region
New York’s average gas price is down 5 cents from last week, averaging $4.95 per gallon, according to an announcement by AAA Northeast.
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Gas prices drop 5 cents in region
UTICA — New York’s average gas price is down 5 cents from last week, averaging $4.95 per gallon, according to an announcement by AAA Northeast.
This week’s price is 3 cents higher than a month ago and $1.80 higher than a year ago, the announcement said, adding that New York’s average gas price is 6 cents higher than the national average.
A drop in the global price of oil helped the national average for a gallon of gas to fall for a second week to land at $4.89. Economic fears of a potential global recession leading to less demand for oil dropped the price to around $107 per barrel, down from $110 last week.
“Fear is not a good reason to move a market like the one for oil, but it is a powerful motivator,” said Patti Artessa, AAA Northeast regional director of public and government affairs. “The cost of oil accounts for nearly $3 for every $4.89 at the gas pump. Consumers should find more relief when fueling up if oil prices drop further.”
Locally, the average cost of a gallon of gas in the Utica/Rome area was just above the state average at $4.96 per gallon, the AAA report showed.
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