AAA: Gas Prices Expected to Drop Even Further This Fall

Motorists across the country are getting some welcome relief at the pump — and according to AAA, the downward trend in gas prices is likely to continue in the coming weeks.

Prices Continue to Fall Nationwide

As of Monday, the national average for a gallon of regular gasoline sits at $3.08, down five cents from last week and 12 cents lower than a year ago. In New York State, the average is $3.16, a slight drop from last week’s $3.18 and eight cents below last year’s price of $3.24.

AAA Western and Central New York reports similar declines across the region: Batavia at $3.20, Buffalo holding steady at $3.18, Elmira down to $3.01, Ithaca at $3.22, Rochester at $3.19, Rome at $3.16, Syracuse at $3.11, and Watertown dipping to $3.17.

Why Prices Are Dropping

The Energy Information Administration (EIA) attributes the recent declines to reduced demand — now at a four-month low — and a steady increase in gasoline inventories. As refineries switch from producing summer-grade to the cheaper winter-grade fuel, costs typically fall even further.

What to Expect Next

With the third quarter ending on stronger supply and lower consumption, experts predict the downward trend could last through much of the fall. The combination of lower demand, sufficient refinery output, and mild weather conditions is providing the perfect storm for additional price relief — welcome news for drivers heading into the holiday travel season.