Rochester’s gas prices keep falling, still nearly $0.50 over national average

Evan Bourtis News10NBC

ROCHESTER, N.Y. (WHEC) — Gas prices in Rochester have continued to fall for over a month, but local prices are still higher than the national and New York State averages.

This week, Rochester’s gas prices fell by 10 cents according to AAA. The current average is $4.45 per gallon. That’s down significantly from two months ago, when local prices reached their all-time high of $4.99 per gallon.

The cheapest gas in Rochester was $3.97 per gallon on Sunday while the most expensive was 92 cents higher, found a GasBuddy’s survey. You can find the cheapest local stations through a link to GasBuddy.

Since mid-July, Rochester’s prices have fallen by $0.34, while the national average has fallen by $0.62 and the state average has fallen by $0.39.

On Thursday, national gas prices dipped below $4 for the first time in 5 months, a sign of relief that hasn’t yet been seen in Rochester. Monday’s national average is $3.96 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.

Rochester’s gas prices are higher than in Buffalo, Syracuse, and Batavia. Average prices in Buffalo are 5 cents lower than in Rochester, despite Buffalo’s prices not dropping by as much as Rochester’s this week.

Overall, gas prices in Rochester have increased by $1.25 over the past year.

The state and Monroe County gas tax relief, which entered its third month, aims to save consumers $0.28 per gallon at the pump. 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 saving for consumers. The study said it’s difficult to enforce a gas tax holiday intended to lower prices for consumers.

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.

You can also explore gas price trends on the website for AAA.