State, national gas prices drop slightly, still higher than 2016

Average retail gasoline prices in New York state have fallen 1.5 cents per gallon in the past week, averaging $2.40 per gallon Sunday.

This compares with the national average, which has fallen 0.9 cents per gallon in the last week to $2.28, according to gasoline price website GasBuddy.com.

Including the change in gas prices in New York during the past week, prices Sunday were 29 cents per gallon higher than the same day one year ago but 4.9 cents per gallon lower than a month ago.

The national average has decreased 0.6 cents per gallon during the last month and stands 24 cents per gallon higher than this day a year ago

According to GasBuddy historical data, gasoline prices on March 27 in New York have ranged widely over the last five years: $2.11 per gallon in 2016, $2.56 per gallon in 2015, $ 3.74 per gallon in 2014, $3.91 per gallon in 2013 and $ 4.05 per gallon in 2012.

“Remarkably, for a third straight week, average gasoline prices have declined. In fact, for just the first time since 2009, average gasoline prices today stand cheaper than on Feb. 15, traditionally the day of the lowest gasoline prices of the season,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.

“This feat has been accomplished for several reasons: first, weak gasoline demand which has kept inventories of winter gasoline far more than adequate; second, there have been few largescale, unexpected refinery outages; and third, crude oil inventories and rising U. S. production have kept oil prices under pressure over the last month. All three of these factors are actively at play and will continue to keep pressure on prices from spiking, “DeHaan added.

For live fuel price averages, visit http:// FuelInsights.GasBuddy.com.