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CNY Holiday Travelers Probably 'Thankful' for Lower Gas Prices

gasbuddy.com

Central New Yorkers heading out on the road this Thanksgiving Holiday are being greeted by gas prices a full 50 cents–a-gallon less than a year ago.  Gas-Buddy-dot-com Senior Petroleum Analyst Gregg Laskoski says in some respects, the drop  in prices isn't all that uncommon for this time of year.

"It is surprising to us to see prices falling as rapidly and as consistently as they are.  But a the same time, we do expect  prices to move lower every year in the 4th quarter."

Laskoski says oil companies switch to a winter blend in October, which doesn't contain the same clean-air additives as the summer formula...and is therefore cheaper.  He also doesn’t expect the recent declining prices to reverse because of the jump in travel for the holiday.

"Even with that, it doesn't place any extraordinary stress on refineries.  If anything, i would suggest that the horrendous weather we saw from last week , that actually added to the fuel inventory we have.  The only people who would have been driving are the folks who absolutely needed to.  So that type of weather ...it reduces fuel consumption and reduces demand."

 
Laskoski cites a couple other reasons prices have fallen so far recently.  Among them, the aging population means people drive less;  most people replacing cars are buying vehicles that are more fuel efficient;  and the economy is still keeping many close to home to stay frugal.  The Syracuse average for gas is $3.02 –gallon this week, though many areas are seeing prices far lower than that.  Still, the average is down about 31 cents from a month ago…and 50 cents from last Thanksgiving.  
 
Gasbuddy reminds motorists prices vary from city to city and especially state to state due to tax rates.  Most of the states in the eastern third of the country are seeing prices 37 to 55 cents per gallon lower than a year ago.
 

Scott Willis covers politics, local government, transportation, and arts and culture for WAER. He came to Syracuse from Detroit in 2001, where he began his career in radio as an intern and freelance reporter. Scott is honored and privileged to bring the day’s news and in-depth feature reporting to WAER’s dedicated and generous listeners. You can find him on twitter @swillisWAER and email him at srwillis@syr.edu.