Press release from Automobile Association of America:
Today’s national average price for a gallon of gasoline is $4.19, up seven cents from last week. One year ago, the price was $2.90. The New York State average is $4.35, up 12 cents from last week. A year ago, the NYS average was $2.95. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $4.24 (up 3 cents from last week)
- Buffalo - $4.23 (up 2 cents from last week)
- Elmira - $4.29 (up 8 cents from last week)
- Ithaca - $4.28 (up 7 cents from last week)
- Rochester - $4.31 (up 3 cents from last week)
- Rome - $4.32 (up 7 cents from last week)
- Syracuse - $4.29 (up 5 cents from last week)
- Watertown - $4.31 (up 6 cents from last week)
Gas prices are up across the board this week despite a slight drop in demand. Although lower gas demand would typically push pump prices lower, increasing oil prices and tight gasoline supply have pushed pump prices higher. Pump prices will likely face upward pressure as oil prices remain above $100 per barrel.
Crude prices have increased because the current level is approximately 16 percent lower than at the end of April 2021. As supply remains tight and the market remains highly volatile, crude prices will likely continue to fluctuate, pushing pump prices higher.
From Gas Buddy:
“Gasoline prices have continued their rally in the last week with oil prices sustaining higher levels, but the real story has been diesel fuel, which has skyrocketed to its highest level ever seen. Diesel is now $1 per gallon or more in many areas compared to gasoline," said Patrick De Haan, head of petroleum analysis at GasBuddy. "The meteoric rise in diesel prices is likely to continue for the first half of the week at least, while gasoline prices could continue to see a slow but steady rise. For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy."
