Gas Prices Rise with Oil Prices

Gas Prices Rise with Oil Prices

Higher oil prices drive up pump prices
Elizabeth Carey
Higher oil prices drive up pump prices

Today’s national average price for a gallon of gasoline is $3.88, up five cents from last Monday. One year ago, the price was $3.68. The New York State average is $3.92, up three cents from a week ago. A year ago, the NYS average was $3.79. AAA Western and Central New York (AAA WCNY) reports the following averages:

•    Batavia - $3.84 (up 1 cent from last Monday)
•    Buffalo - $3.89 (up 4 cents from last Monday)
•    Elmira - $3.84 (up 3 cents from last Monday)
•    Ithaca - $3.93 (up 2 cents from last Monday)
•    Rochester - $3.92 (up 2 cents from last Monday)
•    Rome - $3.95 (no change from last Monday)
•    Syracuse - $3.91 (up 2 cents from last Monday)
•    Watertown - $3.97 (up 1 cent from last Monday)

Gas prices are on the rise, and the primary culprit is the surge in oil costs, which have jumped several dollars returning to the $90s per barrel. This morning, oil prices range from $91 to $95 per barrel. According to the latest data from the Energy Information Administration (EIA), gas demand decreased significantly while domestic gasoline stocks rose. Although gas demand has dropped amid increasing stocks, elevated oil prices have pushed pump prices higher.
There’s no relief with diesel prices either. The national average price for diesel is $4.58, up 10 cents from last Monday, but down from $4.96 a year ago. The New York average for diesel is $4.71, up 11 cents from a week ago, but lower than $5.14 one year 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.