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Gas prices continue to plummet in Rochester

Rochester Business Journal
August 26, 2015

Gas prices continued to plummet both locally and nationally this week, following a drop in U.S. crude oil prices to a six-year low of below $40 a barrel.

In Rochester, gas prices fell to an average of $2.62 a gallon on Monday, down nearly 6 cents from a week ago and down by more than $1 from a year ago, a weekly survey by GasBuddy.com shows.

Prices at Rochester’s pump typically are well above the national average, but this week drivers nationwide are paying $2.60 a gallon, according to the survey.

“Gasoline price trends finally aligned last week across all areas of the country,” GasBuddy senior petroleum analyst Patrick DeHaan said in a statement. “The Midwest saw gasoline prices plunge after it was reported that BP was looking to bring its Whiting refinery online in the days ahead.”

Prices could continue to fall through Labor Day, DeHaan said, but cautioned that drivers in the Northeast may pay higher prices after a major fire struck a refinery in Delaware City on Friday.

“The market hasn’t really had a chance to react, but it could turn ugly at the pump in the days ahead for motorists in that region,” he added.

GasBuddy operates more than 250 websites tracking gas prices at more than 140,000 stations nationwide, including RochesterGasPrices.com. In Rochester, GasBuddy tracks price changes at more than 300 retail outlets.

(c) 2015 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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