Press release from Automobile Club of America:
Today’s national average price for a gallon of gasoline is $4.33 ($4.325), up 26 cents from last week. One year ago, the price was $2.86. The New York State average is 4.45, up 19 cents from last week. A year ago, the NYS average was $2.90. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $4.38 (up 15 cents from last week)
- Buffalo - $4.40 (up 19 cents from last week)
- Elmira - $4.41 (up 22 cents from last week)
- Ithaca - $4.44 (up 22 cents from last week)
- Rochester - $4.42 (up 18 cents from last week)
- Rome - $4.40 (up 18 cents from last week)
- Syracuse - $4.42 (up 18 cents from last week)
- Watertown - $4.41 (up 16 cents from last week)
It appears as though oil prices have tapered off – this morning prices are $110 per barrel and under rather than over $130 one week ago. In August, oil prices were $30 per barrel. At one point during the pandemic, they were below zero, in negative territory. Oil prices have a direct impact on gas prices.
New survey data from AAA finds that two-thirds of Americans felt gas prices were too expensive just a few weeks ago at $3.53 per gallon. Now with the national average at an all-time high of over $4, Americans may have reached a tipping point. Over half (59%) said they would make changes to their driving habits or lifestyle if the cost of gas rose to $4 per gallon. If gas were to reach $5.00, which it has in some parts of the country, three-quarters said they would need to adjust their lifestyle to offset the spike at the pump.
From Gas Buddy:
“After a furious increase in the national average over the last two weeks, the top appears to be in with average gas prices slowly starting to decline over the last few days,” said Patrick De Haan, head of petroleum analysts at GasBuddy. “While the decrease could be short-lived, it is nonetheless a well-needed break from the large surge in gas prices we've experienced over the last few weeks. The situation remains fluid, and escalations remain very possible, if not likely. For now, a $4.50 per gallon national average is off the table, but it certainly could be a future possibility as long as there is conflict between Russia and Ukraine.”
