Press release from AAA:
Today’s national average price for a gallon of gasoline is $3.33, up six cents from last week. One year ago, the price was $2.17. The New York State average is $3.43 – up eight cents from last week. A year ago, the NYS average was $2.25. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $3.38 (up five cents from last week)
- Buffalo - $3.36 (up five cents from last week)
- Ithaca - $3.43 (up seven cents from last week)
- Rochester - $3.42 (up seven cents from last week)
- Rome - $3.44 (up eight cents from last week)
- Syracuse - $3.39 (up six cents from last week)
- Watertown - $3.42 (up eight cents since last week)
Gas prices took a big jump over the past two weeks with national gas prices increasing 13 cents in two weeks. Total domestic gasoline stocks decreased along with gasoline demand. Despite that drop in demand, which would typically bring prices down, gas prices increased. But high crude prices (above $80 per barrel) remain the main culprit for rising pump prices. As crude prices remain elevated, pump prices will likely follow suit.
From Gas Buddy:
"The national average closed the week by climbing to yet another fresh seven-year high, as the price of oil continues to drag gas prices along for the wild ride, leaving motorists on empty," said Patrick De Haan, head of petroleum analysis for GasBuddy. "With OPEC holding back oil production and strong global oil demand, the situation will no doubt pave the road with even higher gas prices in the weeks ahead. Until several bottlenecks ease, including supply chains and low global inventories of oil, natural gas and coal, we'll be stuck feeling the pinch of rising oil and gasoline prices. The bad news is that for now, all I see is the upward trend at the pump continuing into the weeks ahead with no sign of relief just yet."
