The average price of regular gasoline in Lockport is nearly eight cents cheaper this week at $2.701 per gallon, according to AAA East Central’s weekly Gas Price Report.
Statewide, gasoline is about 4 cents cheaper this week in New York at $2.64. The Mid-Atlantic and Northeast region remains one of the most expensive regions in the country this week, with New York among the top-15 most expensive markets in the country.
This week’s average price for Lockport: $2.701
Average price during the week of December 17, 2018: $2.776
Average price during the week of December 26, 2017: $2.552
On the National Front
Nearly 20 percent of states are currently enjoying prices below $2.00 per gallon. Nationally, retail averages have dropped 83 of the past 90 days. The national average for regular unleaded gasoline currently sits at $2.30 per gallon, which is six cents less than one week ago, 24 cents less than one month ago and 16 cents less than at the same time last year.
Heading into 2019, gasoline demand is expected to dwindle during the month of January, an expected change following the busy holiday travel season. At the same time, OPEC will begin production cuts on January 1, with hopes that the shift in global supply will push oil prices higher. The effectiveness of the cuts will not likely be known until later in the first quarter.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased 29 cents to settle at $45.59. Oil prices mostly fell last week, reaching their lowest since the third quarter of 2017, as market observers have concerns that the global crude market is oversupplied.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 80 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.
For More Information, Contact:
Jim Garrity, Public & Community Relations Manager
Desk: 412-365-7274 / Cell: 412-905-9021 / Email: Garrity.James@aaaec.com