Press release from AAA:
Here is a look at current prices as of Sunday night, Dec. 30. The national average price for a gallon of gasoline is $2.27, down 6 cents from last week. One year ago, the price was $2.49.
The New York State average is $2.62 – down 4 cents from last week. A year ago, the NYS average was $2.64. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.69 (down 2 cents since last week)
- Buffalo -- $2.69 (down 4 cents since last week)
- Ithaca -- $2.46 (down 5 cents since last week)
- Rochester -- $2.60 (down 3 cents since last week)
- Rome -- $2.60 (down 4 cents since last week)
- Syracuse -- $2.51 (down 4 cents since last week)
- Watertown -- $2.71 (down 5 cents since last week)
Heading into 2019, gasoline demand is expected to dwindle during the month of January, an expected change following the busy holiday travel season. At the same time, OPEC will begin production cuts on Jan. 1, with hopes that the shift in global supply will push oil prices higher. The effectiveness of the cuts will likely not be known until later in the first quarter.
Over the past few years, OPEC and partnering countries have demonstrated a strong resolve to comply with proposed cuts in production. It is likely that the cartel will reconvene in April, and if there is a need to further balance global supply and demand, OPEC will likely tweak current production numbers at that meeting.
