Gas Prices Steady as Demand Rises

Gas Prices Steady as Demand Rises

Lower oil prices mitigate spikes at pump
Elizabeth Carey
Lower oil prices mitigate spikes at the pump

Today’s national average price for a gallon of gasoline is $3.44, the same as last Monday. One year ago, the price was $4.24. The New York State average is $3.42, down 2 cents since last Monday. A year ago, the NYS average was $4.35. AAA Western and Central New York (AAA WCNY) reports the following averages:

•    Batavia - $3.36 (down 2 cents from last Monday)
•    Buffalo - $3.34 (down 2 cents from last Monday)
•    Elmira - $3.39 (down 1 cent from last Monday)
•    Ithaca - $3.45 (no change from last Monday)
•    Rochester - $3.40 (down 1 cent from last Monday)
•    Rome - $3.45 (down 2 cents from last Monday)
•    Syracuse - $3.41 (down 1 cent from last Monday)
•    Watertown - $3.45 (down 1 cent from last Monday)

Spring has sprung with gas demand surging as motorists took advantage of better driving weather in many parts of the country, and travelers headed out for spring break. But fears of a recession caused global oil prices to hover near $70 a barrel, mitigating a rise in gas prices.

According to the Energy Information Administration (EIA), gas demand increased while total domestic gasoline stocks decreased significantly. Increasing demand amid tighter supply would typically push pump prices higher; however, recent lower oil prices have helped keep gas prices down. This morning oil prices range from $69 to $75 per barrel, up from $65 to $70 per barrel, but down considerably from one year ago.

Diesel prices continue to fall. The national average price for a gallon of diesel is $4.24, down 5 cents from a week ago. Here in New York, the current average for diesel is $4.89, down 3 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.