Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.16, no change from last week. One year ago, the price was $2.56. The New York State average is $2.26 – up 1 cent from last week. A year ago, the NYS average was $2.68.
AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.22 (no change since last week)
- Buffalo -- $2.19 (no change since last week)
- Ithaca -- $2.25 (up 1 cent since last week)
- Rochester -- $2.23 (down 1 cent since last week)
- Rome -- $2.33 (no change since last week)
- Syracuse -- $2.18 (down 1 cent since last week)
- Watertown -- $2.30 (no change since last week)
In a recent report from the Energy Information Administration (EIA), gas demand dropped to its lowest weekly estimate since the end of May. The decrease in demand, alongside an increase in total domestic stocks should push gas prices down. However, crude prices continue to rise due to increasing optimism that coronavirus vaccines will be available in the coming weeks, which could help boost domestic crude demand.
From GasBuddy:
"After gas prices spiked last week in their biggest weekly rise since August, we've seen them cool back down for the time being. With COVID-19 cases continuing to rise and restrictions weighing on gasoline demand, we're likely to see optimism over vaccinations offset by lower current demand for the most part," said Patrick De Haan, head of petroleum analysis for GasBuddy.
"In the weeks ahead as that balance shifts and millions get the vaccination, if things look much improved, I would expect for a longer upward move in gas prices. For now, however, the holidays will be marked by the lowest seasonal prices in years."
