“Gas Buddy Guy” Predicts Binghamton’s Labor Day Pump Price
One of the nation's best-known experts on gasoline and oil price trends has some potential good news for motorists in the Binghamton area.
Patrick De Haan - the head of petroleum analysis for GasBuddy - told WNBF News that the average price at the pump in the region may continue to decrease over the next few weeks.
At the end of a live radio interview on Tuesday, De Haan was asked to predict the Labor Day price for a gallon of gas for drivers in the Binghamton area. Noting the current local average was $4.49 a gallon, he said if there are no major hurricanes or unforeseen supply disruptions "I'll say $4.19... maybe a little less than that." He added: "We could even be under four dollars - but watch the Atlantic, watch the tropics."
Although gas pricing trends sometimes appear to be confusing, De Haan points out that supply and demand ultimately determines what people pay.
Prices can be affected by a wide array of regional and global factors, including changes in the overall economy.
In recent days, a small convenience store in Binghamton's First Ward has surprised people driving by with its posted cash price of $4.199 for regular.
A clerk working at the One Stop Grocery on Wednesday said he didn't know why the price was so low. But there's been some speculation that it could be a temporary situation because the business was sold a few weeks ago.
According to Broome County records, the property at 283 Front Street was acquired on June 28 by JC Gas & Convenience LLC from John Manculich for $250,000.