New York, national gasoline prices continue decline

Average retail gasoline prices in New York have fallen 4.2 cents per gallon in the past week, averaging $2.75 per gallon Sunday.

This compares with the national average, which has fallen 5.5 cents per gallon in the last week to $2.55, according to gasoline price website GasBuddy.com.

Including the change in gas prices in New York during the past week, prices Sunday were 45.1 cents per gallon higher than the same day one year ago and are 29 cents per gallon higher than a month ago.

The national average has increased 19.6 cents per gallon during the last month and stands 34.7 cents per gallon higher than this day a year ago.

According to GasBuddy historical data, gasoline prices on Sept. 25 in New York have ranged widely over the last five years: $2.30 per gallon in 2016, $2.45 per gallon in 2015, $3.60 per gallon in 2014, $3.74 per gallon in 2013 and $4.09 per gallon in 2012.

“For the second straight week, almost every state saw average gasoline prices fall notably as refineries continue to heal after Harvey and work on restoring production of motor fuels,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “While oil prices have gained momentum in the last few weeks, it will not be enough to stymie the continued decline at gas pumps, which will bring the national average down another 5-10 cents in the week ahead.

“Nationwide, many motorists have asked why all gas prices haven’t come back down to pre-Harvey levels, and while the answer is complex, in short, it will take weeks or months to see gasoline inventories recover fully, but prices will continue to slowly drift lower as inventories slowly improve,” DeHaan said.