{"id":2160,"date":"2022-12-22T07:42:16","date_gmt":"2022-12-22T07:42:16","guid":{"rendered":"https:\/\/africaparrot.com\/?p=2160"},"modified":"2022-12-22T07:42:16","modified_gmt":"2022-12-22T07:42:16","slug":"gas-prices-in-ny-continue-to-drop-falling-to-lowest-average-since-jan","status":"publish","type":"post","link":"https:\/\/africaparrot.com\/index.php\/2022\/12\/22\/gas-prices-in-ny-continue-to-drop-falling-to-lowest-average-since-jan\/","title":{"rendered":"Gas prices in NY continue to drop, falling to lowest average since Jan"},"content":{"rendered":"

Gas prices in New York continued to drop this week, falling to their lowest average since January 2022.<\/p>

\"\"<\/a><\/div>\n

Nationwide, this is the sixth week in a row that gas prices have fallen as oil prices remained steady, according to AAA.<\/p>\n

The national average cost of a gallon of gas fell to $3.14, 12 cents less than last week’s price. After nearly two months of declining, gas prices have now dipped below $3 in about 20 states, AAA said. <\/p>\n

Unfortunately, the tri-state area is not in those 20 states, with drivers in New York now paying an average of just $3.46 per gallon for regular gas, drivers in New Jersey paying $3.25, and Connecticut seeing the lowest price at $3.17.<\/p>\n

“The cost of oil, gasoline’s main ingredient, has been hovering in the low-to-mid $70s per barrel, and that’s $50 less than the peak last Spring,” Andrew Gross, AAA spokesperson, said. “Combined with low seasonal demand, gas prices could slide a bit more before leveling off.” <\/p>\n

Gas prices are currently at their cheapest level since 2021. Gas prices could rise alongside oil prices.<\/p>\n

The steady drop in gas prices has helped Americans save about $750 million daily, according to Patrick De Haan, head of petroleum analysis at GasBuddy.<\/p>\n

“Fuel prices across the board have been plunging back into territory more Americans feel is normal, which could certainly boost economic sentiment going forward,” De Haan said.<\/p>\n

However, those savings could soon erode as oil prices increase again.<\/p>\n

On Monday, West Texas Intermediate crude oil increased $1.47 per barrel to $75.76 \u2013 almost $4 higher than last Monday’s $71.85 per barrel price \u2013 in light of the news that China is reopening its economy, according to GasBuddy.<\/p>\n

Brent crude oil rose by $1.46 to $80.50 per barrel, roughly $4 higher than last Monday’s price of $76.32 per barrel.<\/p>\n

De Haan said that as drivers head into Christmas travel week, they’ll find gas prices at their lowest “in a year and a half.”<\/p>\n

“While the decline should take the national average under $3 per gallon in the next week or so, it is soon likely to fade as oil prices have held in the $70 per barrel range,” DeHaan said. <\/p>\n

One fallout from lower gas prices is that demand for electric and hybrid vehicles has dropped, according to a recent survey by Insurify.<\/p>\n

The survey said drivers were half as likely to consider buying an electric or hybrid vehicle in November as they were four months earlier when gas prices hovered at $5 per gallon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gas prices in New York continued to drop this week, falling to their lowest average since January 2022. Nationwide, this is the sixth week in a row that gas prices have fallen as oil prices remained steady, according to AAA. 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