By: Benjamin Schiller SYRACUSE N.Y. (NCC News) –
Gas prices in Central New York are finally trending downwards.
“It’s been fluctuating for months. It’s probably going to keep fluctuating for a while,” said Valerie Puma, spokesperson for the American Automobile Association.
But, gas prices are trending downwards this week because of one common factor.
“We are still seeing a lot less demand than this time last year,” said Puma.
Gas prices are down this week compared to last week. The average gas price in Syracuse today is $3.59, while the average a month ago was $3.73. It appears international crude oil prices are another factor influencing gas prices.
“Those crude oil prices overseas have declined earlier this week due ongoing market concerns regarding the likelihood of a recession,” said Puma.
Meanwhile, President Joe Biden (D) was in Onondaga County today saying the country is not heading towards a recession.
“Because of the acts we’ve taken, gas prices are declining. We are down $1.25 since the peak, and this summer. They’ve been falling for the past three weeks, as well,” said Biden, during his speech on the economy.
But, that is not stopping gas prices from not following the trend due other factors.
“So, if they bought their fuel a couple of weeks ago, when prices for them were much higher, then they kind of need to sell off what they purchased at that higher price, just so they aren’t losing money,” said Puma.
But, in the long run, experts believe that Central New Yorkers will continue to have more relief at the gas pumps.