Supply and demand makes gas prices fall

The cost of a regular grade gallon of gasoline is at the lowest it has been in months. The average price in Syracuse Wednesday was $3.25.

At the four stations near the corner of
I-81 and NY-31 in Cicero, however, gas cost $2.98. According to gasbuddy.com, that is the lowest price in the Syracuse area.

Diana Dibble, the public relations manager of the Western and Central New York AAA, said the price drop is a result of supply and demand. The peak automobile travle season has ended making demand lower than it was weeks ago. Dibble said the relatively low cost of a barrel also accounts for the reduced price reflected at the pump.

But, gas cost $3.59 at a station on Syracuse's Far Westside the same day. Dibble said it is not uncommon to have prices fluctuate on the local level. She said the difference in prices may be a result of stations getting gasoline from different suppliers, as well as other factors including having a convenience store to offset revenue lost by higher gas prices.

This package with a look-live donut: