Some more good news at the pumps this week, as gas prices continued to fall, despite a bump in demand over the holiday weekend.

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According to AAA, a new record of 42 million motorists were expected to hit the roads over the long 4th of July holiday weekend.  And, even with the increase in demand, gas prices continued on a downward trend across the country.

Andrew Gross, AAA spokesperson said:

Usually, more people buying gas would lead to higher pump prices...But the price for oil, the main ingredient in gasoline, has fallen and is hovering around $100 a barrel. Less expensive oil usually means less expensive gas.

Prices across the country were down 12 cents a gallon since last week, to $4.67. Here in New York state, the average price per gallon dipped another .10 cents a gallon, down to $4.78.

 

Credit - AAA
Credit - AAA
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On a local level, prices dropped as well, as the average price per gallon dipped to $4.75.  Down .06 cents from last week's average of $4.81 a gallon.

Credit - AAA
Credit - AAA
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Last year, the average cost of a gallon in New York state was $3.19 a gallon.  Will the downward trend at the pump continue? The latest info from the Energy Information Administration says that current supply/demand dynamics, combined with the price of oil going down should continue to provide relief to our wallets for the time being.

Things could be worse for us here in New York. California currently has the most expensive gas in the country, where a gallon of regular unleaded gas will set you back $6.05.

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