There was a smile on Rosario Naimo’s face Thursday afternoon as he pulled into the Valero gas station in Jamesport.
That’s because he saw something he hadn’t seen for a while. The cost of a gallon of gas was $3.05.
Mr. Naimo of Bella Dolce in Miller Place, an artisan ice cream company, travels to the North Fork every day to drop off gelato and other fine desserts to local restaurants. Lately, it costs him $100 to fill up his 36 gallon tank.
“It’s awesome,” he said when asked how he felt about Thursday’s gas prices. “This is the cheapest I’ve seen it in a long time.”
Valero clerk Jehengir Akbar said the cash price of regular gas went down to $3.05 Thursday morning.
When asked how customers have reacted, he said: “Very happy.”
“It’s been a long time,” he said, referring to the last time gas was close to dipping below $3.
As of 3 p.m., the cash price for regular gas was also $3.05 at Empire in Mattituck, according to gasbuddy.com.
Over in Riverhead, the webiste reflected Citgo and 7-Eleven were offering $3.09 at the pump.
According to The News York Times, oil prices have plunged recently in part because Saudi Arabia has been cutting its oil prices for the United States.
“The day’s 2 to 3 percent price declines for most crude benchmarks came as a reaction to a move by Saudi Arabia on Monday to cut its selling price for the American market by roughly 45 cents a barrel,” the Nov. 4 article states. “The effort was interpreted by many traders as a sign that Saudi Arabia will try to compete with American oil to protect its shrinking but still considerable market share in the United States.”
As for Mr. Naimo, he said he’s looking forward to seeing the trend continue and realizing additional savings at the pump.
“I can’t wait to see it below $3,” he said. “We need it.”