Binghamton Gas Prices Expected to Jump 10 to 20 Cents a Gallon

An oil industry analyst says drivers in the Binghamton area should be prepared to see higher gasoline prices in coming days.

Patrick De Haan of GasBuddy said he anticipates motorists will have "to dig just a little bit deeper" when they fuel their vehicles.

During a WNBF News interview, De Haan said pump prices in New York state "are down about four cents a gallon in the last week but we're going to start going up."

OPEC on Wednesday announced it would sharply cut production as part of an effort to increase global oil prices.

De Haan noted many stations in the Binghamton area now have a posted price of $3.699 a gallon for regular. GasBuddy.com showed three stations in the city were selling gas for $3.50 a gallon or less.

De Haan said oil prices already had started rising before OPEC's formal announcement of reduced production because there had been rumors of the planned action over the past week.

As for gas prices in the Binghamton region, De Haan predicted they likely will rise by 10 to 20 cents a gallon in the next month. But, he added, things may change and other factors beyond the OPEC production cut could affect the cost of gasoline.

FLASHBACK: Some Binghamton-area motorists paid $1.79 a gallon in February 2016. (Photo: Bob Joseph/WNBF News)

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Contact WNBF News reporter Bob Joseph: bob@wnbf.com or (607) 545-2250. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.

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Filed Under: Binghamton, Broome County, Gas Buddy, gasoline prices, New York State

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