New York Gas Prices Drop Ahead of Memorial Day

BUFFALO, NY – This Memorial Day weekend, gas prices are down. The statewide average, according to GasBuddy analysts, is now $3.67, about three cents higher than last year.

It remains on the typical seasonal trend, falling for the fourth consecutive week.

“Gas prices are expected to continue to decline through much of the remainder of May and into June,” said Patrick De Haan, head of oil analysis at GasBuddy. “Gas prices generally follow this trend each year after peaking in the spring. Prices generally fall as refiners now increase their gasoline production. This boosts supply and lowers prices.

Even though the average is trending down, the cost of fueling still plays a role in how far people are willing to drive their cars.

“When prices are higher, they feel less free to do the things they want or go where they want,” De Haan said. “So it’s a very polarizing number.”

Electric vehicle owners say they are happy to no longer have to worry about gas and oil prices.

“It’s pretty nice to be able to charge at home without having to worry about where the next gas station is,” said Cristina Sales, who was charging her Nissan Leaf at the New York State Welcome Center in Grand Island . .

This week, President Joe Biden’s administration announced the release of 1 million barrels of gasoline to try to lower prices at the pump. De Haan said this could provide temporary relief in the form of five to fifteen cents per gallon.