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According to Triple A, the average cost of a gallon of regular gas in the Capital Region remains steady at $3.05, unchanged from last week and ten cents less than a month ago. This stability comes amid economic concerns and increased oil production by OPEC+ nations. The state average is slightly higher at $3.10 per gallon, while the national average is $3.16.
Triple A attributes the steady prices to a combination of factors, including lower crude oil prices and increased supply. Despite the typical seasonal rise in demand, the decision by oil-producing countries to boost output has helped keep prices in check. The national average price is nearly 50 cents lower than it was at this time last year, reflecting the impact of these dynamics.
Looking ahead, experts predict that gas prices may continue to fluctuate due to ongoing economic uncertainties and potential tariffs.