Your Stories Q&A: Will gas drop below $3 in Syracuse by end of year?

SYRACUSE, N.Y. (WSYR-TV) – You ask, we answer!

Question: Will gas prices drop below $3 a gallon here in the Syracuse area?

Depending on where you live, some of you are already paying under $3 a gallon for gas, especially in the northern suburbs.

According to AAA, Cayuga County has an average of $2.97.

But, the average for the Syracuse area is $3.07, according to AAA. That’s lower than the state average of $3.13.

Winter is typically when we see the lowest gas prices, due to cheaper winter blend of gasoline being used at the pump and demand is down compared the warmer months of the year.

Patrick De Haan, GasBuddy’s head of petroleum analysis, said pump prices have been, “stuck” in recent weeks here in Syracuse. AAA data shows prices have only fallen $.02 in one month.

“I would have thought prices would have been slightly lower this year. I think part of the reason we are stuck where we are, has been an exceptional amount of refinery issues this fall.”

De Haan said those issues are primarily in the Great Lakes region and West Coast. Those issues have kept the national average higher.

De Haan said other refineries here and around the globe have been down for seasonal maintenance. Some of those refineries are key to the northeast.

“When they do maintenance, they are not producing near the amount of volume they normally do. That can hold prices artificially higher,” De Haan said.

Fortunately refineries are finishing the seasonal maintenance, which should drive prices down.

“Once these refineries get online that should help lead to more product, which should lead to lower prices. Don’t be surprised by Christmas we could slip below that $3.00 (in Syracuse).

Which would be a great gift for us all!

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