Today’s national average price for a gallon of gasoline is $3.54, no change from last Monday. One year ago, the price was $4.47. The New York State average is $3.67, down one cent since last Monday. A year ago, the NYS average was $4.75. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $3.63 (down 1 cent from last Monday)
- Buffalo – $3.69 (down 2 cents from last Monday)
- Rochester – $3.72 (down 2 cents from last Monday)
The recent slide in pump prices eased over the last week as a rise in demand for gas was offset by lower oil prices. An increase in demand usually translates into higher gas prices but the cost of oil has remained low keeping prices stable as we near Memorial Day. New data from the Energy Information Administration (EIA) shows demand rising above expectations from 8.62 to 9.30 million b/d last week while supply has declined. Oil prices remain near $70 per barrel as fears of a global economic recession persist. This morning’s national average is 13 cents less than last month and 93 cents lower than a year ago.
Diesel prices dipped slightly. The national average price for a gallon of diesel is $4.01, down four cents from a week ago. Here in New York, the current average for diesel is $4.63, down six cents from last week.
