Gas Prices Continue Rising

Gas Prices Continue Rising

Oil prices move higher with increased demand for fuel
Mark Gruba
Oil prices move higher with increased demand for fuel

Today’s national average price for a gallon of gasoline is $3.47, up seven cents from last Monday. One year ago, the price was $3.45. The New York State average is $3.37, up three cents from one week ago. A year ago, the NYS average was $3.44. AAA Western and Central New York (AAA WCNY) reports the following averages:

•    Batavia - $3.25 (no change from last Monday)
•    Buffalo - $3.30 (no change from last Monday)
•    Elmira - $3.26 (up 5 cents from last Monday)
•    Ithaca - $3.32 (up 6 cents from last Monday)
•    Rochester - $3.31 (up 1 cent from last Monday)
•    Rome - $3.40 (up 4 cents from last Monday)
•    Syracuse - $3.31 (up 2 cents from last Monday)
•    Watertown - $3.38 (up 5 cents from last Monday)

The national average for a gallon of gas continues to bump higher as we move closer to the official start of Spring. The main driver for the increase is a spike in oil prices, which are trading in the low 80s per barrel this morning. Oil is the main ingredient in the production of gasoline. In addition, demand for gas has become stronger with daylight saving time. The latest data from the Energy Information Administration (EIA) reveals gas demand increased slightly over the last week, while domestic supply has fallen. Higher demand amid tightening supply has helped push pump prices higher along with the rise in oil prices.

The upward trend in gas prices is not unusual this time of year. Another critical factor is the arrival of more expensive summer blend gas, which tends to increase pump prices by 10 to 15 cents. That transition is underway in some parts of the country.

Diesel prices remain relatively steady. The national average price for diesel is $4.03, no change from last Monday. The New York average is $4.39, down one cent from a week ago.

To conserve fuel, motorists should map routes, avoid peak traffic times like rush hour, and combine errands into one trip while using cruise control when possible. Drivers should also make sure tire pressure is at the vehicle’s recommended level for the best gas mileage while removing any unnecessary and bulky items from the car since it takes more fuel to accelerate a heavy vehicle. Get more tips here: https://gasprices.aaa.com/news/fuel-saving-tips/. Motorists can benefit from comparing pump prices before filling up with the AAA Mobile App for iPhone, iPad, and Android. 

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell. Learn more here. AAA members can save on gas by joining the Fuel Rewards at Shell program. Join now at AAA.com/Shell. Motorists can also locate gas prices across the country and stay up-to-date on news and fuel-saving tips at http://gasprices.AAA.com.