Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.03, which is 5 cents higher than a week ago. One year ago, the price was $2.76. The New York State average is $2.20 – 2 cents higher than last week. A year ago, the NYS average was $2.90.
AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.25 (up 3 cents since last week)
- Buffalo -- $2.19 (down 1 cent since last week)
- Ithaca -- $2.11 (up 1 cent since last week)
- Rochester -- $2.20 (no change since last week)
- Rome -- $2.21 (up 3 cents since last week)
- Syracuse -- $2.10 (up 1 cent since last week)
- Watertown -- $2.19 (up 1 cent since last week)
The national average price for a gallon of gasoline has topped $2, after spending months below that $2 mark due to inactivity among motorists, low demand and slowed production.
Prices have been slowly rising as states reopen and demand for gasoline increases for both work and recreation purposes. While demand is on the rise, levels are still lower than one year ago.
Expect prices to continue to increase as the summer travel season gets underway. This year, AAA expects road trips to be very popular.
From GasBuddy:
"It's no surprise that gasoline prices have increased for the sixth straight week as gasoline demand has hit its highest level since early March as Americans are returning to the roads," said Patrick De Haan, head of petroleum analysis for GasBuddy.
"With OPEC extending its large oil production cuts until at least July, oil prices continue to rally. In Sunday evening trade, a barrel of WTI crude oil briefly touched $40 per barrel, the highest level in months thanks to rebounding demand for oil and gasoline as well as the previous production cuts.
While I don't see oil's strength holding too long given that oil demand remains 20-25 percent below a year ago, I believe the anxiety pushing oil prices up is coming from the fact that the economy may be recovering quicker than most anticipated. For now, motorists will likely continue to see gas prices rising for the weeks ahead."
