ALBANY, N.Y. (NEWS10) – Monday morning, the national average price for a gallon of gasoline is $2.56, down a penny from last week, according to AAA.
The New York State average is $2.74 – down three cents from last week.
With the fall driving season on the horizon, lower demand — even amid reduced stock levels – will likely help to push pump prices lower. Winter blend fuel is also cheaper to produce.
At the close of Friday’s formal trading session, oil prices settled at $56.52 – up slightly. Oil prices started the day lower due to continued market concerns over the U.S.-China trade war.
If crude inventories remain high, especially as gasoline demand drops with the fall driving season, pump prices could be as cheap as $2.40 this fall.