Drivers in Central New York are seeing consistent gas prices, with the average cost of regular gasoline remaining at $3.06 per gallon. According to AAA, this price has stayed the same as last week and is five cents lower compared to a month ago. The state average is slightly higher at $3.10, while the national average stands at $3.16.
AAA attributes the price stability to economic factors and a recent decision by oil-producing companies to increase output. These elements have helped keep prices steady, even as fluctuations occur in other regions.
The Energy Information Administration (EIA) reports a slight increase in gasoline demand, while domestic gasoline supply has decreased. However, gasoline production has risen, averaging 9.4 million barrels per day.
As summer nears, AAA anticipates that prices may remain stable or even decrease further due to lower crude oil prices and reduced demand. The organization will continue to monitor the situation and provide updates on gas prices and trends.
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