Press release from AAA:
Today’s national average price for a gallon of gasoline is $3.20, up two cents from last week. One year ago, the price was $2.18. The New York State average is $3.28 – no change from last week. A year ago, the NYS average was $2.27. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $3.26 (up one cent since last week)
- Buffalo - $3.23 (no change since last week)
- Ithaca - $3.28 (up one cent since last week)
- Rochester - $3.28 (up one cent since last week)
- Rome - $3.30 (no change since last week)
- Syracuse - $3.24 (no change since last week)
- Watertown - $3.25 (no change since last week)
The national gas price average has reached $3.195 (which rounds up to $3.20) tying early August peaks and matching a 7-year-high. Much of the rise in prices is due to impacts from Hurricanes Ida and Nicholas on oil and refinery production. Reduced crude production combined with gradual refinery restarts has led to a drop in percent of crude utilization nationwide. Meanwhile, total domestic stocks are down as well. As the recovery process continues, some states have already seen prices jump by 10 cents in a week.
From Gas Buddy:
"Gas prices have been stuck in somewhat of a limbo and remain near 2021 highs long after Hurricane Ida has dissipated. The damage done to oil production has been left behind and so far has prevented prices from resuming their seasonal decline," said Patrick De Haan, head of petroleum analysis for GasBuddy. "Ida caused the loss of over 30 million barrels of oil production in the Gulf of Mexico, and with gasoline demand remaining relatively high for the season, oil inventories remain relatively tight, preventing any organized decline in gas prices for the time being. As a result, we may have to wait a couple more weeks until hurricane season slows for oil inventories to start to rise and gas prices to fall."
