The average price of a gallon of regular unleaded gasoline is the same in Buffalo as it was a week ago. Down the road in Rochester, consumers are paying two cents less per gallon than this time last week.
Nationally, the price is up two cents from last week to $2.31 per gallon. One year ago, the price was $1.81. The New York State average is now at $2.45 per gallon, down a penny from last week. A year ago, the NYS average was $1.94.
On Friday, markets closed posting slight crude oil gains, but the market remains flat with prices per barrel under $54.
Despite continued production cuts from OPEC, United States oil production continues to rise. According to oil services company Baker Hughes, U.S. drillers added seven oil rigs this week, bringing the total rig count up to 609, the most since October 2015. Traders will continue to watch how the market reacts to increased U.S. oil production.
