Gas Prices Drop Despite High Oil Prices
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Despite rising oil prices, gas prices nationwide are dropping significantly, according to AAA. The national average for a gallon of gas now stands at $3.60, down 10 cents from last week. New York though remains higher with a statewide average of $3.81 a gallon.
Luckily for Cortland County, the average is closer to the national average, at $3.75. The Energy Information Administration (EIA) says demand for gas increased slightly and domestic stock has fallen substantially. However, with static demand and decreasing gas stocks.
AAA says the recent unrest in the Middle East won’t affect prices significantly when compared to the Russian invasion of Ukraine as Israel and Palestinian territories are not significant oil producers.
