Press release from AAA:
Today’s national average price for a gallon of gasoline is $3.18, down one cent from last week. One year ago, the price was $2.20. The New York State average is $3.28 – no change from last week. A year ago, the NYS average was $2.28. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $3.25 (down two cents since last week)
- Buffalo - $3.23 (no change since last week)
- Ithaca - $3.27 (up one cent since last week)
- Rochester - $3.27 (no change since last week)
- Rome - $3.30 (up one cent since last week)
- Syracuse - $3.24 (down one cent since last week)
- Watertown - $3.25 (no change since last week)
Note: prices are compared to last Monday, Labor Day. The last gas price report was issued Tuesday after the holiday.
The national gas price average has held steady for several days at $3.18. The latest data from the Energy Information Administration shows that gas demand increased slightly from 9.58 million b/d to 9.61 million b/d — a healthy reading for the Labor Day weekend. Meanwhile, total domestic stocks took a major step back by 7.2 million bbl to 220 million bbl. Refinery utilization was down almost 10% to 81.9%, as refineries impacted by Ida continue to progress in their recovery efforts. With demand increasing and supplies tightening, some states have seen prices fluctuate, with some up by four cents and others lower by 3 cents. This has helped stabilize the national average this week. However, as oil prices remain high (over $70 per barrel), the national average is expected to stay above $3 per gallon.
From Gas Buddy:
"Sagging U.S. gasoline demand along with continued recovery after Hurricane Ida have helped gas prices edge slightly lower in most states from where they were a week ago. But with Tropical Storm Nicholas threatening another key area of refineries in Houston with significant rain, we could see the decline in prices hit the pause button," said Patrick De Haan, head of petroleum analysis for GasBuddy. "While Nicholas would appear to be a minor storm, we could see a deluge of water - the same issue that caused some significant damage in Ida's wake to refineries in Louisiana. Combined with the earlier storm, Nicholas could make things more challenging. However, as gasoline demand has now fallen for four straight weeks, there is more breathing room even if some capacity does temporarily go offline. It's too early to tell, clearly, but motorists should be aware."
