How gas prices have changed in Binghamton in the last week

Drivers will find prices at the gas pump are slightly lower than last month, on average, but conflict in the Middle East and hurricane activity in the Gulf of Mexico could change the situation quickly in the weeks ahead.

Oil prices surged late last week on the news of Israel’s intent to launch a retaliatory strike on Iran , just the latest in a series of escalatory actions taken by the nation to assert its power in the region since the Oct. 7 attack by Hamas one year ago. Israel, which carried out strikes against northern Gaza and southern Lebanon over the weekend, is reportedly considering striking Iran’s oil production facilities. Iran accounts for 3% of the world’s oil supply.

Also, this year’s busy hurricane season forecasted by weather experts continues to unfold. Hurricane Milton is expected to strengthen into a Category 5 hurricane before making landfall in part of the same region still reeling from Helene’s destruction in the last few weeks.

The U.S. is producing more oil than any country at any time in history, and some analysts believe the U.S. has enough inventory to withstand any shocks to supply.

Stacker compiled statistics on gas prices in Binghamton, NY metro area using data from AAA . Gas prices are current as of October 7.

Binghamton by the numbers
– Gas current price: $3.25
— New York average: $3.22
– Week change: -$0.05 (-1.4%)
– Year change: -$0.67 (-17.1%)
– Historical expensive gas price: $4.98 (6/9/22)

– Diesel current price: $3.99
– Week change: +$0.03 (+0.8%)
– Year change: -$0.80 (-16.7%)
– Historical expensive diesel price: $6.51 (5/18/22)

Metros with the most expensive gas
#1. Lihue (Kauai), HI: $5.23
#2. Napa, CA: $5.00
#3. Santa Rosa, CA: $5.00

Metros with the least expensive gas
#1. Catoosa-Dade-Walker, GA: $2.53
#2. Henderson, KY: $2.54
#3. Dalton, GA: $2.57

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