Elevated oil prices keep drivers paying more at the pump
Today’s national average price for a gallon of gasoline is $3.83, 7 cents higher than last Monday. One year ago, the price was $4.07. The New York State average is $3.90, up 8 cents from a week ago. A year ago, the NYS average was $4.44. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia – $3.83 (up 12 cents from last Monday)
- Buffalo – $3.86 (up 10 cents from last Monday)
- Rochester – $3.90 (up 10 cents from last Monday)
Gas prices continue to bump up, but the rate of increase has slowed in recent days, and relief could be on the way. The national average is up 7 cents since last week primarily due to the price of oil, which remains in the low to mid 80s per barrel. However, two factors are cooling the summer surge. According to the latest data from the Energy Information Administration (EIA), gas demand decreased over the last week while total domestic supplies increased as refinery operations are returning to normal after last month’s extreme heat in certain parts of the country led to lower output. Today’s national average of $3.83 is 29 cents more than a month ago, but 24 cents less than a year ago.
This morning, diesel prices are up as well. The national average price for diesel is $4.19, up 15 cents from last week, but down from $5.16 a year ago. The New York average for diesel is $4.46, up 8 cents from last week, but still much lower than $5.64 one year ago.
