Gas prices remain stable into the first week of October. According to AAA, Monday’s national average price at the pump is $3.13 per gallon, which is down by a fraction of a cent compared to a week ago. Meanwhile, New York State saw its average drop by more than two cents to $3.18. And Chautauqua County’s average went down by a fraction of a penny and is $3.30. One year ago, the national and state averages were $3.17 and $3.23, respectively.
AAA adds that crude oil supply remains robust as OPEC+ is likely to announce in the coming days another production increase in November. That surplus coupled with weaker demand is keeping pump prices down, even as some U.S. refineries are expected to go offline this month for seasonal maintenance. Meanwhile, oil prices remain steady in the low to mid $60s per barrel. According to data from the Energy Information Administration, gas demand is down slightly while supply is up, and production is on the decline…