Gas prices across the U.S. on the rise
Today’s national average price for a gallon of gasoline is $4.87, up 25 cents from last Monday. One year ago, the price was $3.05. The New York State average is $4.88, down 5 cents since last Monday. A year ago, the NYS average was $3.09. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $4.75 (down 9 cents from last Monday)
- Buffalo – $4.72 (down 11 cents from last Monday)
- Rochester – $4.79 (down 10 cents from last Monday)
This morning, oil prices are at about $120 per barrel. Crude prices have increased amid supply concerns from the market as the European Union works to implement a 90 percent ban on Russian oil imports by the end of this year. Crude prices were also boosted by increased demand expectations from the market after China lifted COVID-19 restrictions in Shanghai. Additionally, EIA reported that total domestic stocks decreased. As a result, the current storage level is approximately 13.5 percent lower than a year ago, contributing to rising crude prices.
Locally, prices have decreased due to the gas tax cap in New York and additional many counties while prices across the country are increasing rapidly due to high oil prices and increased demand.
