Press release from AAA:
Today’s national average price for a gallon of gasoline is $3.15, down one cent from last week. One year ago, the price was $2.23. The New York State average is $3.23 – up one cent from last week. A year ago, the NYS average was $2.30. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $3.24 (up two cents since last week)
- Buffalo - $3.16 (up two cents since last week)
- Ithaca - $3.20 (up two cents since last week)
- Rochester - $3.20 (up one cent since last week)
- Rome - $3.27 (no change since last week)
- Syracuse - $3.18 (no change since last week)
- Watertown - $3.22 (up one cent since last week)
Gas prices began to fluctuate over the weekend due to Hurricane Ida impacting the Gulf Coast, though mostly in states in the storm’s path. A storm like this typically causes an increase in fuel purchases in the market and a slowdown in production due to oil refinery shutdowns. Spikes in pump price due to the effects of the storm tend to be brief but dramatic. Furthermore, the upcoming Labor Day weekend holiday travel could push prices up based on demand.
From Gas Buddy:
"While the national average price of gasoline declined yet again over the last week, Hurricane Ida has been causing countless disruptions to critical infrastructure, including oil production, refineries and pipelines. We're likely to see a reversal this week, but motorists need not be too concerned at this point," said Patrick De Haan, head of petroleum analysis for GasBuddy. "I expect the national average to rise in the neighborhood of 5-15 cents per gallon in the next couple of weeks- far smaller than the impact from Hurricanes Katrina and Harvey, but with damage assessments still to come, it’s possible we see slight deviation from that. While Colonial Pipeline shut Lines 1 and 2 as a precaution, it’s highly unlikely that this will cause any long-term disruption to fuel supply as we saw months ago after the company was hacked. The biggest question for refineries will be the flooding- which could alter the rise in gas prices, but the odds of a massive surge in gas prices nationwide are extremely low."
