SHOCKING: Gas Prices Dropping Across New York

This is some VERY GOOD news for drivers across New York State. The latest gas price update from AAA has gas prices dropping compared to last week and last month.

Usually, we see the gas prices jump after June 1st since all gas stations have to switch over to the more expensive to produce "Summer Blend" of gas but it looks like we are seeing the price drop slightly.

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According to AAA, at the time of this writing, the average price of a gallon of regular unleaded gas in New York was $3.65. That is down about 2 cents from last week and down over 8 cents compared to last month.

Will prices remain in a downward trend? Most likely not since gas stations will have to pay more for the "Summer Blend" of gas and will eventually pass that charge on to the consumer.

WHAT IS SUMMER BLEND GAS?

The government calls for gas producers to make "Summer Blend" gas during the warmer months. This blend has lower volatility, making it less likely to evaporate while sitting in your car’s gas tank in the heat. It is also less likely to emit harmful fumes into the atmosphere.

WHAT IS WINTER BLEND GAS?

The government calls for gas producers to make "Winter Blend" gas during the colder months of the year. This blend is made with a high Reid Vapor Pressure or RVP. Gas that has a higher RVP evaporates more quickly. This is good since your engine doesn't have to be as hot to turn on which is ideal in colder months.

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WHEN DO COMPANIES HAVE TO SWITCH TO SUMMER BLEND GAS?

Companies that produce gas have to start producing "Summer Blend" gas by May 1st. Gas Stations have until June 1st to make the switch over to "Summer Blend" Most gas stations will try and sell all the rest of their Winter Blend by the middle of May and convert to 100% by June 1st.

HOW MUCH MORE DOE SUMMER BLEND GAS COST?

According to the website Gasbuddy.com, the average cost to produce "Summer Blend" gas is about 15 cents more per gallon than the "Winter Blend" That increase in cost is passed on to the consumer which is there is an expected increase in the price of gas coming up.

HOW LONG DO COMPANIES USE SUMMER BLEND GAS?

Gas producers and gas stations have to sell "Summer Blend" gas only until September 15th. After that, they can transition to the cheaper "Winter Blend" until May 1st of the following year.

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LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

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