National Average Drops 16 Cents
Today’s national average price for a gallon of gasoline is $4.52, down 16 cents from last week. One year ago, the price was $3.17. The New York State average is $4.69, down 11 cents since last Monday. A year ago, the NYS average was $3.20. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $4.62 (down 10 cents from last week)
- Buffalo – $4.68 (down 8 cents from last week)
- Rochester – $4.77 (down 9 cents from last week)
According to the latest data from the Energy Information Administration (EIA), gas demand tapered off over the past two weeks following the Independence Day holiday, while total domestic gas stocks increased. The lower demand, alongside cheaper oil prices, has helped to push pump prices down. If these supply/demand dynamics hold, drivers will likely continue to see price relief at the pump. This morning, oil prices are hovering around the $100 per barrel mark, which is down slightly compared to one week ago though prices did drop below $100 at one point last week.
All WNY is made possible thanks to coffee and sleep deprivation.
Buy us a cup? (of coffee, we can handle the sleep deprivation ourselves)