Increased stocks help push prices down

Today’s national average price for a gallon of gasoline is $3.45, down 10 cents since Monday. One year ago, the price was $3.38. The New York State average is $3.74, down 5 cents since Monday. A year ago, the NYS average was $3.56. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia – $3.60 (down 2 cents from Monday)
  • Buffalo – $3.69 (down 4 cents from Monday)
  • Rochester – $3.73 (down 3 cents from Monday)

Gas prices are on the decline. According to new data from the Energy Information Administration (EIA), gas demand held steady at 3.2 million b/d last week. Meanwhile, total domestic gasoline stocks rose by nearly 2.8 million bbl to 213.8 million bbl. Increasing supply and steady gasoline demand have contributed to pushing pump prices lower. As demand remains low and stocks grow, drivers will likely continue to see pump prices decrease through next week.

Oil prices remain lower. As of December 2, oil prices range from $81 to $86 per barrel.

Diesel fuel prices remain elevated with the national average at $5.13, down 9 cents from Monday, but up from $3.63 one year ago. The New York average for diesel is $5.80, down 6 cents from Monday and up from $3.76 one year ago.