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SARATOGA SPRINGS, N.Y. -- Motorists in upstate New York and Vermont will find it a little less expensive to fill up starting today. Stewart's Shops dropped its gas prices by 10 cents at 11 a.m. today.
"Despite the recent storms and the economic chaos around the world, we have recently seen the gas market costs come down and we wanted to celebrate this with our customers," Stewart's President Gary Dake said in a post on the company's Facebook page. "It looks like the speculators are getting out of the crude market for now and that has helped bring about this good news."
A statement on the locally headquartered retailer's website further explained that "after months of watching a chaotic gas market, we are seeing enough of a pattern to suggest that the speculative bubble may have burst and in celebration, we are dropping our gas prices. This is one of the few bright spots in the current economy and we hope to be able to continue to make price decreases."
The relief at the pump will be felt across the board, the company added.
This is the third time that Stewart's Shops has decreased gas prices by 10 cents on all grades. The first time was in October 2008, and the second in May 2010.
Motorists across the country may see slightly reduced gas prices, in general, as autumn begins. This time of year, the country switches to less-expensive "winter gas." Because cooler air is less conducive to smog formation, "winter gas" doesn't need to be refined as much.