LIVE PROTOCOL
EET--:--:-- edition--.--.--

Gas prices fall 18 cents in a week as oil stays below $100

Gas prices fall 18 cents in a week as oil stays below $100

Gas prices are falling across the New York region, dropping 18 cents in a single week. According to AAA, the national average for regular gasoline is now $4.24 a gallon, the second straight week of declines, while New York's average is $4.44, down from $4.53 a week earlier. Gas Buddy figures show several Westchester stations at $4.19 and a Rockland Citgo at $4.15. The decline follows a spring spike as the war with Iran escalated, with experts pointing to crude oil staying below $100 a barrel and eased Middle East tensions. Uncertainty remains over when the Strait of Hormuz will fully reopen.

Drivers across the New York region are getting some relief at the pump as the summer travel season begins. Gas prices are falling, dropping 18 cents in a single week, and the decline is holding even as wider tensions in the Middle East keep the market uncertain. The timing is welcome, with school almost out and families preparing to hit the road for summer vacations.

The national picture shows a clear downward trend. According to AAA, the national average for a gallon of regular gasoline is now $4.24, down 18 cents from the previous week. It marks the second straight week of declines, suggesting that the spring surge in prices has begun to ease for motorists around the country.

Locally, the numbers are higher but moving in the same direction. The current average price in New York is now $4.44 a gallon, down from $4.53 just a week earlier. That steady slide mirrors the national trend and offers a measure of breathing room for commuters across the state as costs come down.

For those willing to shop around, even lower prices can be found in the suburbs. Figures from Gas Buddy show several stations in Westchester with regular at $4.19, described as the lowest available unless drivers belong to a price club that sells fuel. In Rockland, the lowest price was a Citgo at $4.15 a gallon.

The decline follows a sharp run-up earlier in the year. Prices had spiked this spring as the war with Iran escalated, pushing costs higher at filling stations across the area. Now those pressures are receding, with energy experts pointing to the price of crude oil, which remains below $100 per barrel.

A calmer geopolitical backdrop is helping to keep prices in check. For the moment, tensions have eased in the Middle East, and experts say that as long as oil prices stay under the $100 benchmark, pump prices may continue to hold steady or even fall further. That outlook gives drivers reason to hope the relief will last a little longer.

Still, the situation carries a degree of uncertainty. It remains unclear when the Strait of Hormuz will fully reopen to traffic, a factor that continues to hang over the global oil market. For now, however, the numbers at the pump are dropping, providing some welcome relief for motorists heading into the summer months.

Loading article...