Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.40, up 1 cent from last week. One year ago, the price was $2.53. The New York State average is $2.49 – up 2 cents from last week. A year ago, the NYS average was $2.70.
AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.38 (down 1 cent since last week)
- Buffalo -- $2.42 (down 1 cent since last week)
- Ithaca -- $2.47 (up 1 cent since last week)
- Rochester -- $2.45 (no change since last week)
- Rome -- $2.51 (up 3 cents since last week)
- Syracuse -- $2.42 (no change since last week)
- Watertown -- $2.52 (up 1 cent since last week)
Pump prices have leveled off in most areas. Gas demand increased substantially according to the Energy Information Administration (EIA) while total domestic gasoline supplies decreased. Total crude utilization across domestic refineries took a small step forward from 82 percent to 82.5 percent.
All of these factors, including sustained higher crude prices, have contributed to higher pump prices for drivers and will likely lead to continued increases in pump prices in the weeks ahead.
Crude prices, while on the rise, are fluctuating amid growing market concern that crude demand may continue to suffer as coronavirus infections rise and travel restrictions, which are meant to curb transmission of the virus, reduce crude demand.
From GasBuddy:
"Finally, after several weeks of sharply rising gas prices, the pace of price increases has slowed significantly in recent days as prices are now largely caught up to oil's increases as of late," said Patrick De Haan, head of petroleum analysis for GasBuddy.
"While the national average remains at its highest level since the pandemic, increases are likely to slow down in the immediate short-term unless and until oil prices see renewed momentum.
"When it comes to demand, Pay with GasBuddy data showed last week's gasoline demand at its highest level since November, another bullish factor as the nation continues to see slow improvement from the pandemic."
