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Gas prices still hit the wallet hard, but they are falling. According to AAA, the average price for a gallon of gas in NY is $4.79. That is down 25 cents from last month.
Gary called the Your Stories Team asking why the price of diesel has not dropped.
Prices have dropped, but do still remain painfully high.
According to AAA, the average price of diesel in N.Y. is currently selling for $6.04 a gallon. That is a drop of 27 cents from last month and a 40 cent drop from the record high back in May.
GasBuddy expert, Patrick De Haan told the YS Team that diesel prices will continue to fall over the next few weeks. He predicts a drop of 5-15 cents a gallon. He said that’s only if current economic and oil conditions remain the same. De Haan said if there is a disruption in the industry such as a hurricane, it could force refinery’s to close, causing prices to spike.
In its recent economic forecast, Kiplinger wrote:
We look for prices at the pump to decline a bit more, but to stay painfully high this summer. In fact, we could see a new all-time peak if refineries have to shut down due to a summer hurricane.