Press release from AAA:
Today’s national average price for a gallon of gasoline is $3.42, up two cents from last week. One year ago, the price was $2.11. The New York State average is $3.56 – up one cent from last week. A year ago, the NYS average was $2.22. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia - $3.46 (no change from last week)
- Buffalo - $3.47 (no change from last week)
- Ithaca - $3.51 (no change from last week)
- Rochester - $3.52 (no change from last week)
- Rome - $3.56 (up two cents from last week)
- Syracuse - $3.50 (no change from last week)
- Watertown - $3.56 (up one cent since last week)
Local pump prices are holding steady this week. According to the latest data from the Energy Information Administration (EIA), total domestic gasoline stocks are down, and gasoline demand continues to rise, but at a slower pace than in recent weeks. Meanwhile oil prices remain over $80 per barrel though they did dip below that mark last week for the first time in a month. The EIA recently reported that total domestic crude supply increased, which has helped to prevent large increase in pump prices.
From Gas Buddy:
"Last week saw oil prices briefly fall back under $80 for the first time in weeks. While it wasn't enough to provide much relief last week, we should see small declines this week in a majority of the country, thanks to the corresponding drop in wholesale gasoline prices," said Patrick De Haan, head of petroleum analysis for GasBuddy. "At OPEC's monthly meeting last week, the cartel held firm to the small increases they agreed to in July, raising November production by 400,000 barrels per day. With President Biden still mulling over options to help push gas prices down, we could continue to see some volatility in oil prices. I don't immediately see a large decline or surge coming in the run-up to Thanksgiving, but U.S. gasoline demand does remain strong. Levels are currently rivaling September demand, so we know high prices aren't significantly curbing consumption."
