Rochester’s gas prices continue to fall by about 10 cents per week
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ROCHESTER, N.Y. (WHEC) — Gas prices in Rochester have fallen between 7 and 10 cents every week since early July. This week, gas prices fell by 9 cents, making the region’s average $4.36 per gallon.
Overall, gas prices in Rochester have fallen by $0.35 in the course of four weeks according to AAA. Prices have fallen significantly from a local record high of $4.99 per gallon, set on June 15. However, this week’s average price is still $1.17 higher compared to last August.
Prices in Rochester and New York State aren’t falling as quickly as in other states. While the state’s average has fallen by $0.37 over the course of a month, the U.S. average fell by $0.51. The current U.S. average is $3.90 per gallon.
News10NBC reported that gas prices are falling slower in New York State because much of the northeast depends on imported oil, which has been in short supply. A short supply and high demand have led to a jump in prices, despite state and local gas tax relief. On the other hand, regions that can refine oil locally, like the midwest, have a greater supply leading to lower prices.
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Gas prices in Rochester have fallen between 7 and 10 cents every week since early July.
The city in western New York where gas prices are falling the quickest is Elmira. Prices fell by 15 cents this week and the current average is $4.21 per gallon, the lowest in the region. The highest in the region is Watertown.
Rochester ranks near the top for most expensive gas in western New York this week, with a price slightly higher than Syracuse and 6 cents higher than Buffalo.
The cheapest gas in Rochester was $3.93 per gallon on Sunday while the most expensive was 76 cents higher, found a GasBuddy’s survey. You can find the cheapest local stations through a link to GasBuddy.
New York State’s weekly average is $4.25 per gallon, which is higher than most states. The lowest gas price of any state is Minnesota at $3.83 per gallon.
New York’s high prices are despite the state and Monroe County gas tax relief, which aims to save consumers $0.28 per gallon at the pump. The tax relief has been ongoing since June 1.
News10NBC reported on a study that suggests that, while consumers benefited initially from the NY gas tax relief, middlemen and retailers eventually absorbed the gas tax. That leads to less savings for consumers.
RELATED: So where did the gas tax savings go? The data may have the answers
Gas prices have skyrocketed over the past year because of rapid recovery from the pandemic increased the demand so high that supply couldn’t keep up. Europe’s restrictions on importing Russian oil also scrambled world oil prices, affecting the U.S. even though the U.S. imports very little Russian oil.
Because the summer travel season has ended, there is a lower demand for gas which causes prices to keep dropping. You can explore gas price trends on the website for AAA.