Gas prices remain down in New York

PLATTSBURGH — The nation's average price of gasoline declined for a fourth week, down 2.2 cents from last week and stands at $3.03 per gallon, and in New York state, prices are down 1.3 cents averaging $3.11 per gallon Monday according to GasBuddy's survey of 6,118 stations in New York.

Prices in New York are 10.4 cents lower than a month ago and 50.8 cents per gallon lower than a year ago.

According to GasBuddy data, the national average is down 16.7 cents compared to a month ago and 32.3 cents lower than a year ago.

"While the election has come and gone, gas prices have stayed the course, with the national average price of gasoline declining for a fourth consecutive week as seasonal demand weakens and Americans begin to take refuge from falling temperatures," Patrick De Haan, head of petroleum analysis at GasBuddy, said.

"While some may be surprised by the declines—some 28 states have average gas prices below $3 per gallon—this was anticipated in our annual Fuel Outlook from last December. Looking back at our outlook provides insight into the current drop and what we expect next. With the median U.S. gas price now at $2.95 per gallon, the lowest since 2021, it appears to be just a matter of time before the national average falls below $3 per gallon for the first time since May 2021, something we've already seen for diesel prices, which many Americans will be thankful for as we get closer to Thanksgiving."

According to GasBuddy demand data, US retail gasoline demand fell 10.1% during the week ending Saturday, Nov. 9.

The most common price per gallon encountered by motorists remains unchanged at $2.99.

The top 10% of stations in the country average $4.17 per gallon and the bottom 10% average $2.47 per gallon.

The states with the lowest average prices per gallon are Oklahoma at $2.50, Texas at $2.60 and Mississippi at $2.65.

Hawaii, California and Washington remain averaging the highest prices per gallon at $4.51, $4.44 and $3.92 respectively.

LOCAL PRICES

As of Tuesday, Nov. 12 these are some gas prices reported from around the North Country:

Plattsburgh:

Lucky's (NY3) — $2.89

24 Hour Fuel (Archie Bordeau Road) — $2.89

Sam's Club (Membership Required) — $2.89

Shell (NY3) — $2.89

Stewart's Shops (Cook Street) — $2.94

Stewart's Shops (NY3) — $2.95

Mobil (NY3) — $2.95

Champy's Gas and Go — $2.95

Maplefields (Cornelia Street) — $2.95

Stewart's Shops (Rugar Street) — $2.95

Malone:

Parkway Express (US11) — $2.93

Malone Food Mart — $2.99

Maplefields (E Main Street) — $2.99

Mountain Mart 107 — $3.05

Stewart's Shops (E Main Street) — $3.05

Mobil (US11) — $3.07

Stewart's Shops (W Main Street) — $3.07

Saranac Lake:

Mobil (Lake Flower Avenues) — $3.39

Mobil (Broadway) — $3.39

Stewart's Shops — $3.39

Champlain:

Mobil (US11) — $3.19

Irving — $3.19

Sunoco (Cash only) — $3.19

Lake Placid:

Stewart's Shops (Saranac Avenue) — $3.39

Stewart's Shops (Main Street) — $3.43

Mobil (Main Street) — $3.43

Peru:

Liberty's Garage — $3.09

Stewart's Shops — $3.09

Ray Brook:

Sunoco (cash only) — $3.39

Crown Point:

Mobil (Main Street) — $3.39

Dannemora:

Stewart's Shops — $2.94

Rouses Point:

Stewart's Shops — $3.14

Keeseville:

Sunoco — $3.15

Ticonderoga:

Mobil (NY9N) — $3.39

"Five years from now, if you're not using [artificial intelligence] in every part of your business, I can look you in the eye and say you're going to be fundamentally disadvantaged," IBM (IBM) CEO Arvind Krishna told Yahoo Finance at the 2024 Invest conference. D.A. Davidson Managing Director Gil Luria joins Morning Brief Hosts Seana Smith and Brad Smith to discuss where IBM stands in the AI era and how businesses are leveraging the emerging tech. IBM has "one of the most valuable businesses in AI right now, which is a consulting business that helps companies figure out what they're going to do with AI," Luria says, adding, "Unfortunately for them, it's a relatively small part of the business. The overall business depends on a lot of other services and hardware and business process outsourcing. So, it may not drive very rapid growth for the overall company, but that consulting business is doing phenomenally well right now because so many companies want to know what to do with AI." The analyst explains that "almost all of AI spend right now is experimental. There's very few real-life products that are adding value and scaling, and that's not too surprising ... This technology is extraordinarily young. The big breakthroughs only happened a couple of years ago. Many of the breakthroughs just happened months ago. And so it takes a lot of time to refine this type of technology and to move it from being a breakthrough in science to being a productive enterprise software product that we can all use and create efficiencies and drive new revenue." Luria notes that AI for enterprise use requires different standards than consumer AI. "This AI technology still has to be refined. Let's not forget that just because we're okay with ChatGPT giving us a wrong answer one out of every five times, that's not the case for enterprise software. The technology has to be at a point where hallucinations are near zero for us to actually implement them in a real environment and use them for mission-critical systems. We are probably two to three years away from that." To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Naomi Buchanan.