The national average price for regular unleaded gasoline is now $2.24 per gallon, up three cents from last week. The New York State average is $2.43 per gallon, up two cents from last week. A year ago, the NYS average was $2.27.
Locally, AAA Western and Central New York (AAA WCNY) report that the average price for gasoline in Buffalo is up two cents to $2.38, while Rochester saw a one-cent increase to $2.37.
The spike began as crude oil prices rose following an announcement by the Organization of Petroleum Exporting Countries (OPEC) to slash output beginning in January. Last week, OPEC reached a deal with non-member producers to cut output to ease a global oversupply, which also pushed prices upward.
One year ago, holiday travelers were enjoying national average gas prices of $2.00 per gallon. This year, travelers are paying about 25 cents more per gallon nationally. However, holiday travelers are paying about $1 less than they did on Christmas in 2012 and 2013, according to Oil Price Information Service (OPIS).