Press release from the Automobile Association of America:
Today’s national average price for a gallon of gasoline is $4.80, down 10 cents from last Monday and down 8 cents in one week since last Tuesday. One year ago, the price was $3.13. The New York State average is $4.89, down 7 cents since last Monday. A year ago, the NYS average was $3.18. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $4.79 (down 9 cents from last Monday)
- Buffalo - $4.81 (down 5 cents from last Monday)
- Elmira - $4.87 (down 6 cents from last Monday)
- Ithaca - $4.91 (down 4 cents from last Monday)
- Rochester - $4.92 (down 3 cents from last Monday)
- Rome - $4.95 (down 2 cents from last Monday)
- Syracuse - $4.88 (down 5 cents from last Monday)
- Watertown - $4.93 (down 4 cents from last Monday)
About 80 percent of gas stations across the country are now selling regular unleaded gasoline for under $5 a gallon. Oil prices are down amid broad market concern regarding the potential for economic growth to slow or stall due to rising interest rates and inflation. This morning, oil prices are at $103 to $107 compared to $108 to $113 per barrel one week ago.
With the Independence Day holiday behind us, summer travel is in full swing. AAA expected 47.9 million people to travel 50 miles or more from home over the holiday weekend. This is an increase of 3.7% over 2021, bringing travel volumes just shy of those seen in 2019 with car travel setting a new record. Summer travel is expected to be robust through Labor Day.
From Gas Buddy:
“As expected, and for the third straight week, average gasoline prices have fallen to their lowest level in over a month. The price of wholesale gasoline has plummeted, providing price relief as millions of Americans hit the road for the holiday weekend," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While we may see prices decline into this week, the drop could fade soon if oil prices reverse, especially with strong demand over the holiday. For the time being, Americans are spending nearly $100 million per day less on gasoline than when prices peaked a few weeks ago, and that's well-needed relief at a time when gas prices remain near records."
