Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.39, up 7 cents from last week. One year ago, the price was $2.55. The New York State average is $2.47 – up 8 cents from last week. A year ago, the NYS average was $2.71.
AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.39 (up 8 cents since last week)
- Buffalo -- $2.43 (up 10 cents since last week)
- Ithaca -- $2.46 (up 11 cents since last week)
- Rochester -- $2.45 (up 9 cents since last week)
- Rome -- $2.48 (up 6 cents since last week)
- Syracuse -- $2.42 (up 8 cents since last week)
- Watertown -- $2.51 (up 10 cents since last week)
Crude prices have been fluctuating and remain over $50 per barrel. The current price this morning is $52 per barrel. Prices rose over market optimism that coronavirus vaccines will help crude demand recover this year. Additionally, EIA’s recent report helped bolster prices, detailing that total domestic crude inventories are on the decline.
If crude prices continue to sustain prices above $50 per barrel alongside higher refinery utilization rates and demand, drivers could see pump prices remain at elevated levels. Current prices are up across the region, but they remain lower than one year ago.
From GasBuddy:
"Gas prices have jumped to yet another multi-month high as crude oil price rise amidst perceived improvement in the COVID-19 pandemic, which continues to pump prices up as demand shows renewed signs of recovery," said Patrick DeHaan, head of petroleum analysis for GasBuddy.
"In addition, with rumors swirling that President-elect Biden plans to cancel the approval of the Keystone XL pipeline, which would cut off reliable Canadian oil to the United States, oil prices may see additional pressure in the coming days. For now, the upward trend in gas prices may slow from the sharp rise in the last week, but motorists shouldn't expect much of a break from rising gas prices, which now stand less than 20 cents from their year-ago levels."
