Crude oil costs down, but gas prices are up on Long Island
According to AAA Northeast, the average price of regular gas on Long Island is $3.39 a gallon as of Tuesday, nearly 50 cents more than it was last week.
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News 12 went to the Long Island Gasoline Retailers Association on Tuesday to find out why gas stations have not lowered their prices yet despite crude oil prices being down.
"They're still making the same amount per gallon, it's not like they're making any more money," said Chris Daniello, executive director of the Long Island Gasoline Retailers Association.
Daniello says it takes some time for gas stations to catch up with the change in oil prices, that wholesalers and distributors first have to modify what they expect to pay the refineries.
AAA says the change over to the more expensive summer blend of gas in the south is also impacting national prices.
"It won't go down unfortunately as quick as it went up, but probably within a week or so you'll start seeing it dropping again," Daniello said.
The price of home heating oil is also expected to drop, and there are ways consumers can save a little in the meantime if they're expecting a delivery soon.
Tragar Home Services says homeowners who do cash on delivery are subject to the fast changes in oil prices.
The company says it works to accommodate customers on when and how much they fill their oil tanks.
Tragar suggests reaching out to a customer's oil company to see if they'll work with you on pricing.
