Gas prices: Still high, but gradually slipping down

Even though it’s at a gradual pace, prices at the pump continue trending down.

With the Fourth of July behind us, the national average gallon of gasoline was at $4.65 Tuesday, according to the latest news release from the AAA. “Usually, more people buying gas would lead to higher pump prices,” said Andrew Gross, AAA spokesperson.

“But the price for oil, the main ingredient in gasoline, has fallen and is hovering around $100 a barrel. Less expensive oil usually means less expensive gas.”

Typically, these supply/demand trends would put upward pressure on pump prices; however, falling oil prices have contributed to lower pump prices, the AAA said.

A year-ago now, New York gas prices were at $3.19. Last month, they were just north of $5.00.

Currently, state gas prices are just shy of $4.80.

Within our four county listening region, gas prices locally range with averages between $4.88 and $4.92.

Images courtesy via the AAA.