Another Fast Move Down for Gas

Average retail gasoline prices in New York have fallen 5.4 cents per gallon in the past week, averaging $3.00/g Monday, according to GasBuddy’s daily survey of 6,118 gas outlets in New York. This compares with the national average that has fallen 8.3 cents per gallon in the last week to $2.57/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in New York during the past week, prices yesterday were 65.6 cents per gallon lower than the same day one year ago and are 26.1 cents per gallon lower than a month ago. The national average has decreased 33.2 cents per gallon during the last month and stands 67.0 cents per gallon lower than this day one year ago.

“By tomorrow, more stations in the U.S. will be charging under $2.50 per gallon than over, a remarkable milestone,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “In fact, as of Sunday evening, the number of states that saw at least one station at $1.99 or less had jumped to thirteen from just three a week ago, and included Alabama, Arizona, Colorado, Indiana, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, Ohio, Oklahoma, Texas, and Virginia. As of midday Sunday, all 48 lower U.S. states saw averages under $3/gallon, with New York being the last of the lower 48 to join. Motorists are saving $270 million dollars every day versus pump prices a year ago, but motorists using the GasBuddy app are saving even more- an additional 10-30 cents per gallon- as the difference between stations widens as gas prices fall at varying rates,” he noted.