Press release:
Today’s national average price for a gallon of gasoline is $1.85, up 7 cents since last week. One year ago, the price was $2.87. The New York State average is $2.15 – down 1 cent from last week. A year ago, the NYS average was $2.96.
AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.21 (down 2 cents since last week)
- Buffalo -- $2.21 (no change since last week)
- Ithaca -- $2.13 (no change since last week)
- Rochester -- $2.19 (up 1 cent since last week)
- Rome -- $2.11 (no change since last week)
- Syracuse -- $2.06 (no change since last week)
- Watertown -- $2.12 (down 1 cent since last week)
Increasing demand for gasoline continues to push pump prices up around the country, as more states reopen businesses. Gas demand is expected to continue to grow, leading pump prices to continue to rise. Reports from the Energy Information Administration (EIA) confirm that demand for gasoline has increased, though demand level is still lower than last year at this time.
Oil prices are fluctuating, but have gained some steam, as the market continues to believe that crude demand will increase as more states reopen businesses. However, global crude demand is expected to remain low due to COVID-19, tempering price spikes.
From GasBuddy:
"Gasoline demand continues rebound across the United States as more states reopen, with a week on week rise of nearly 5 percent, according to data from GasBuddy's free payments card. The boost in demand has led oil and gasoline prices to rally, and as long as states continue to loosen restrictions, it'll mean more motorists on the roads and filling their tank," said Patrick DeHaan, head of petroleum analysis for GasBuddy.
"Most states saw prices rise last week, but yet again Great Lakes states, which were the largest beneficiaries of ultra-low prices, saw the most pain as retail gasoline prices fall back into their normal territory against the national average. For now, the continued recovery in gas prices will nearly completely depend on improvement in the coronavirus situation, as so long as refineries boost production again as demand continues to rise again."
