Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.48, up 5 cents from last week. One year ago, the price was $2.52.
The New York State average is $2.59 – up 6 cents from last week. A year ago, the NYS average was $2.69.
AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.50 (up 2 cents since last week)
- Buffalo -- $2.51 (up 1 cent since last week)
- Ithaca -- $2.59 (up 11 cents since last week)
- Rochester -- $2.57 (up 9 cents since last week)
- Rome -- $2.59 (up 8 cents since last week)
- Syracuse -- $2.57 (up 10 cents since last week)
- Watertown -- $2.59 (up 8 cents since last week)
Pump prices have increased this week due to reduced gasoline stock levels and increased demand. In its latest weekly petroleum report, the Energy Information Administration (EIA) revealed that total gasoline stocks fell by 4.2 million bbl. They now sit at 250.7 million bbl, which is 300,000 bbl less than last year’s level at this time.
Meanwhile, EIA reported that demand for gasoline saw a slight uptick last week to 9.1 million b/d, growing by approximately 100,000 b/d from the previous week. As the nation begins to exit the winter driving season, motorists should expect pump prices to continue rising as demand increases and stocks of gasoline tighten.
