Gas Prices Drop Slightly

Gas Prices Drop Slightly

Gas Prices Decrease
U.S. refineries ramp up production
Elizabeth Carey

Today’s national average price for a gallon of gasoline is $2.52, which is down one cent from one week ago. One year ago, the price was $2.29. The New York State average is $2.72, down one cent from last week. A year ago, the NYS average was $2.46.

AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $2.66 (no change in past week)
  • Buffalo - $2.67 (down 1 cent in past week)
  • Ithaca - $2.67 (down 3 cents in past week)
  • Rochester - $2.67 (down 1 cent in past week)
  • Rome - $2.72 (down 2 cents in past week)
  • Syracuse - $2.65 (down 3 cents in past week)
  • Watertown - $2.75 (down 2 cents in past week)

Today’s national average price for regular unleaded gasoline is $2.52 per gallon, which is 23 cents more than last year. Gas prices have continued to decline across the country in the past two weeks. According to the Energy Information Administration’s (EIA) latest weekly petroleum report, gasoline demand fell to just above 9 million b/d (barrels per day). This slight drop in demand may be a contributing factor to the slight decrease in gas prices this week. Additionally, gasoline stocks rose by 261,000 bbl (barrels) and exports grew to an eye-popping 918,000 b/d.

The growing trend ahead of the spring driving season could mean that refineries will produce even higher amounts of gasoline to feed domestic and global demand. Similarly, crude exports have been booming this year. For drivers, increasing gasoline and crude exports have helped to keep pump prices higher than they have been in the years when exports from the U.S. were much lower.

Motorists can always find current gas prices along their route with the free AAA Mobile app for iPhone, iPad, and Android. The app can also be used to map a route, find discounts, book a hotel, and access AAA roadside assistance. Locate gas prices across the country at http://gasprices.aaa.com.

AAA WCNY wants to remind members that they can receive discounts at NOCO gas stations, as well as Fastrac locations. Learn more here. You can find the lowest prices in your area at http://aaa.opisnet.com/index.aspx.