Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.20, which is the same as a week ago. One year ago, the price was $2.89. The New York State average is $2.27 – a penny higher than last week. A year ago, the NYS average was $2.89.
AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.23 (no change since last week)
- Buffalo -- $2.21 (up 2 cents since last week)
- Ithaca -- $2.18 (up 1 cent since last week)
- Rochester -- $2.23 (up 2 cents since last week)
- Rome -- $2.30 (up 2 cents since last week)
- Syracuse -- $2.20 (up 4 cents since last week)
- Watertown -- $2.28 (no change since last week)
According to the latest data from the Energy Information Administration (EIA), total domestic gasoline supplies are down. As supplies tighten, pump prices could continue to rise, depending on demand.
With New Yorkers taking road trips within the state to avoid a quarantine, demand within the state is up and that is reflected in this week’s gas prices.
Analysts suspect that decreasing crude stocks could mean that crude production is beginning to meet demand and could reduce price volatility, as coronavirus outbreaks continue to grow worldwide.
From GasBuddy:
"Similar to watching the Cubs game last night with a quiet and empty stadium, gasoline prices have been quiet last week as markets await the next chapter in the coronavirus situation," said Patrick De Haan, head of petroleum analysis for GasBuddy.
"As cases continue to rise, the likelihood rises that gas prices will stabilize and demand may continue to see small decreases, which is the name of the game behind gas prices.
"I wouldn't expect much movement until we either see more states being impacted again or we see cases start to drop, either one would provide clarity to where we stand now. For now, motorists are still 'stuck' with the lowest summer gas prices in 16 years."
