It's not much, but Western New Yorkers saw a slight drop in the price at the pump this week across the region.

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Oh, how we wish we could rewind gas prices to 2021.  At this time last year, the average price for a gallon of gas across the good ole USA was $3.10 a gallon.  We are a far cry from that these days, as according to AAA, the national price for a gallon of gas currently sits at $4.90. The good news is that represents a drop of .08 cents a gallon from last week's average of $4.98.

Closer to home, the state average dropped below the $5 a gallon mark, dipping .05 cents to $4.96 a gallon.

Credit - AAA
Credit - AAA

In Western New York, the downward trend in pricing continued as the average price of a gallon dipped .03 cents, down to $4.86 a gallon.  I did notice yesterday, in my first time out of the house in nearly 10 days due to COVID, that I was able to find gas on my way to the drugstore for $4.59 a gallon!

Credit - AAA
Credit - AAA

According to AAA, a global drop in the cost of crude oil is the driving force behind the price drop.

Andrew Gross, AAA spokesperson said:

Fear is not a good reason to move a market like the one for oil, but it is a powerful motivator...The cost of oil accounts for nearly $3 for every $4.89 at the gas pump. Consumers should find more relief when fueling up if oil prices drop further.

The old 'supply & demand' game will kick into full effect later this week, as the 4th of July holiday approaches.  AAA predicts that travel levels will approach those of pre-pandemic 2019, with as many as 47 million people traveling 50 miles or more from home for the holiday. This figure would represent the second-highest of all time.

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