Today’s national average price for a gallon of gasoline is $3.13, up three cents in the past week. One year ago, the price was $2.18. The New York State average is $3.18 – up three 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 – $3.14 (up four cents since last Monday)
- Buffalo – $3.12 (up five cents since last Monday)
- Rochester – $3.16 (up six cents since last Monday)
Crude oil prices have significantly increased in the last seven months. Following the Independence Day holiday weekend, AAA expects crude oil prices, and in turn gas prices, to increase and stay expensive through the end of summer. The market has supported increasing crude oil prices in reaction to these variables:
- confidence in worldwide vaccination rollout
- global oil demand spikes
- easing of travel restrictions and optimism for leisure travel
Crude oil accounts for more than half of the price at the pump. As it increases, so does the price consumers pay.
