National Average Decreases as Gas Demand Remains Low and Crude Prices Slide
Today’s national average price for a gallon of gasoline is $4.36, down 17 cents from last week. One year ago, the price was $3.16. The New York State average is $4.58, down 12 cents since last Monday. A year ago, the NYS average was $3.19. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $4.52 (down 10 cents from last week)
- Buffalo – $4.58 (down 11 cents from last week)
- Rochester – $4.68 (down 10 cents from last week)
According to the latest data from the Energy Information Administration (EIA), gas demand increased last week but was lower than this time last year and was more in line with the demand seen in mid-July 2020, when COVID-19 regulations curbed demand. Additionally, total domestic gasoline socks increased, signaling that low demand led to growth in inventory last week. If demand remains low as stocks increase, alongside a continuing reduction in crude oil prices, drivers will likely see pump prices continue to decline.