Amherst, NY (WBEN) - Gas prices in Western New York are continuing to fall. They've dropped over five cents per gallon in the past week, and 20 cents in the past month.
What's the reason behind the drop? Senior Petroleum Analyst at GasBuddy.com Gregg Laskoski says it's a mixture of things. "What we see in Buffalo is consistent with what we see nationwide," Laskoski said. "Once we get Labor Day behind us and the summer travel season is over, consumer demand really diminishes. At the same time, starting in October, that's when refineries put in to the market what's called winter-blend gasoline."
Winter-blend gasoline has fewer additives than summer-blend and takes refineries less time to make, making it cheaper to produce.
Laskoski says that he expects prices to decline through the end of 2013. Does that mean we'll see prices sink below the three dollar mark?
"Some markets in the United States are already seeing gas at below three dollars a gallon. In New York, because you have such high taxes, I don't think New York is going to see gas below three dollars a gallon."
Laskoski also says the falling prices won't last forever. "All good things come to an end, and unfortunately some time in January, maybe February, we should expect to see prices start climbing again."