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AAA Says Global Oil Glut is Good News for Gas Prices | Spectrum Local News – Buffalo

Downstate resident Steve Schoenfeld was in Western New York on business for a few days. While he’s not surprised by the cold weather, he is surprised by the gas prices.

“I’m finding closer towards $3 a gallon, and this is the one time I’m buying gas when I’m up here just filling up my rental car right now at $2.73. So, it is a bit of a savings,” said Schoenfeld, a Westchester County resident.

Buffalo drivers are paying about $2.85 per gallon on average, said Elizabeth Carey of AAA Western and Central New York. That’s about 20 cents more per gallon from last year, but prices are on their way down.

Carey said the growing global crude oil supply is outpacing demand, which is driving down December gas prices.

“OPEC had a meeting this week in Vienna and that’s an international meeting, and they talked about some supply and demand,” she said. “If oil prices continue to stay down, we will see gas prices low and continue to drop. But, it all depends on those oil prices.”

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AAA Says Global Oil Glut is Good News for Gas Prices.

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