Gas Prices Stable Nationally, Down Slightly in New York

Gas Prices Stable Nationally, Down Slightly in New York

Rise in demand for gas offset by lower oil prices
Mark Gruba
Rise in demand for gas offset by lower oil prices

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)
•    Elmira - $3.66 (down 1 cent from last Monday)
•    Ithaca - $3.69 (down 2 cents from last Monday)
•    Rochester - $3.72 (down 2 cents from last Monday)
•    Rome - $3.68 (down 3 cents from last Monday)
•    Syracuse - $3.69 (down 1 cent from last Monday)
•    Watertown - $3.75 (down 3 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 for gas 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.

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.