National Average Gas Price Jumps 12 Cents
National Average Gas Price Jumps 12 Cents
Today’s national average price for a gallon of gasoline is $3.92, up 12 cents from one week ago. One year ago, the price was $3.27. The New York State average is $3.63, up 3 cents since last Monday. A year ago, the NYS average was $3.35. AAA Western and Central New York (AAA WCNY) reports the following averages:
• Batavia - $3.75 (down 3 cents from last week)
• Buffalo - $3.69 (down 3 cents from last week)
• Elmira - $3.48 (up 1 cent from last week)
• Ithaca - $3.73 (down 3 cents from last week)
• Rochester - $3.69 (down 2 cents from last week)
• Rome - $3.73 (down 3 cents from last week)
• Syracuse - $3.58 (down 6 cents from last week)
• Watertown - $3.72 (down 3 cents from last week)
The national average for a gallon of regular gasoline has risen by 12 cents in the past week as the Energy Information Administration reports an increased demand for gas. High gasoline demand, amid tight supply, has led to higher pump prices nationwide. Pump prices on the West Coast have increased due to ongoing refinery maintenance at roughly six refineries. California officials are now allowing less expensive winter-blend gasoline to be sold a month ahead of schedule to offer drivers relief at the pump. Meanwhile, a deadly refinery fire in Toledo, OH has tightened supply in that region.
Locally, pump prices have escaped factors that are pushing gas prices up across most of the country. But rising oil prices could soon impact local gas prices. This morning, oil prices range from $92 to $97 per barrel, up about $10 from last week. Crude prices jumped last week after the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, known as OPEC+, announced intentions to cut crude production by 2 million barrels per day this fall. The exact impact of the production cut on crude prices and domestic gas prices will depend on how the market interprets the reduction. There’s concern that a recession could lead to lower crude demand, which would offset price increases while lower demand during the winter could do the same.
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 the latest news and fuel-saving tips at http://gasprices.aaa.com.