Binghamton Pump Prices to Plunge Further

Drivers in the Twin Tiers may wind up with a little extra cash during the upcoming holiday season. Gas prices in the Binghamton area are expected to keep dropping for the next couple of months.

Jeff Pelton, a price analyst for the consumer website gasbuddy.com, said pump prices in the Southern Tier may drop as much as 20 cents a gallon by the end of the year.

Pelton said he expects the downward pressure on retail gas prices will continue as refineries complete their fall maintenance in coming weeks.

Pelton predicted a few stations in the Binghamton market might be selling gasoline for less than two dollars a gallon by late December.

This week, posted prices for a gallon of regular gas have dropped at low as $2.129 in Broome County.

According to the AAA Daily Fuel Gauge Report, the average price for regular in the Binghamton market on Wednesday was $2.254. That's about $1.07 a gallon lower than the price a year ago.

The Fuel Gauge Report indicates the highest recorded average price for a gallon of regular unleaded gas locally was $4.195 in July 2008.