Gas Prices Have Dropped Slightly, But What Direction Is Next?

Have you noticed recently gas prices have dipped a bit? The gas station I frequent dropped its price 5 cents a gallon, to $3.39. I'll take it, but I have noticed some other gas stations with prices ranging between $3.29 and $3.45 per gallon.

AAA attributes the lower price in part to "...fears of an omicron-driven economic slowdown." But adds that a recent fire in December at a Texas oil refinery could affect prices depending on disruption of service.

It's interesting to note the difference in the average price for gasoline in various areas of New York State. In the Binghamton area, AAA lists the average price at $3.43, but if you travel an hour west to the Elmira area, the average price of unleaded gasoline is $3.33.

But if you get gas in the Ithaca area, the average price is $3.49. Quite a swing between the three Southern Tier cities. But it could be worse. Rochester's average price is $3.50. The city with the highest gasoline price in New York State is White Plains at $3.62 per gallon.

As for state rankings, according to AAA, New York State is currently averaging $3.49 a gallon, making the state the 11th highest in the nation. As for those of you who reside in Pennsylvania, your state ranks as the 9th highest in the nation for an average price per gallon at $3.52.

According to the AAA report, the top five states are California - $4.66, Hawaii - $4.33, Washington - $3.89, Nevada - $3.83, and Oregon - $3.82. So, I guess we're lucky to not be living on the West Coast if that's any consultation.

via AAA