New record high gas prices set across the region today
Today’s national average price for a gallon of gasoline is $4.48, up 15 cents from last week. One year ago, the price was $3.04. The New York State average is $4.76, up 24 cents from last week. A year ago, the NYS average was $3.06. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $4.65 (up 31 cents from last week)
- Buffalo – $4.63 (up 28 cents from last week)
- Rochester – $4.70 (up 27 cents from last week)
Today marks record high gas prices at the national, state, and local level. According to the latest data from the Energy Information Administration, total domestic gasoline stocks decreased while gasoline demand dropped slightly. Normally a decrease in demand would bring prices down, but oil prices remain volatile.
This morning, oil prices are about $109 per barrel. Crude prices rose over growing market worries that Ukrainian and European Union actions against Russian oil-and-natural gas companies could spark retaliation by Russia leading to more market disruption and uncertainty.
Meanwhile, the national average for diesel fuel hit a new record yesterday reaching $5.57. One year ago the price was $3.17. In New York, the average price for diesel is $6.50, which is also a record high set yesterday. One year ago the price was $3.23.
