Buffalo, NY (WBEN) If you’ve filled up recently, chances are you haven’t paid as much as this summer. One expert says this is the usual time gas prices decrease.
GasBuddy’s Patrick DeHaan says gas prices are down about eight cents in Buffalo compared to a month ago. “This is fall. Gas prices fall and fall as demand falls. Americans don’t drive as much in colder weather. We also have seen refinery maintenance season start wrapping up. Refineries do their maintenance after the summer driving season. With that maintenance now wrapping up, refineries will will be able to process and refine more oil. In addition, we’ve been on the cheaper version of winter gasoline now for about the last couple of months, so all of that is providing a bit of tailwind to push prices lower,” says DeHaan.
But he warns geopolitical factors could keep those price declines in check. “If those tensions do get resolved between the U.S. and Iran, we may see the doors open for much lower prices in the months ahead. But if we see new escalations, as is possible, we could also see gas prices going right back up,” notes DeHaan…