Today’s national average price for a gallon of gasoline is $3.15, up two cents in the past week. One year ago, the price was $2.20. The New York State average is $3.19 – up one cent from last week. A year ago, the NYS average was $2.26. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $3.16 (up two cents since last week)
- Buffalo – $3.12 (no change since last week)
- Rochester – $3.16 (no change since last week)
Gas demand is on the rise. In a recent report, the Energy Information Administration (EIA) noted that gas demand jumped from to 10.04 million barrels per day. The estimated rate, which will likely be revised in a few months after verified data is available, is the highest weekly gas demand estimate released by EIA since 1991 and only reflects one day of the Independence Day holiday weekend.
Higher demand and a 6.1-million-barrel decline in total gas stocks over the holiday last week have pushed pump prices higher. If these trends continue, while the price of crude remains above $70 per barrel, American drivers can expect gas prices to continue climbing during the busy summer driving season.