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April 15, 2019 - 7:07am

Gas prices continue upward climb

posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.83, up 9 cents from last week. One year ago, the price was $2.71. The New York State average is $2.83 – up 7 cents from last week. A year ago, the NYS average was $2.82. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.78 (up 6 cents since last week)
  • Buffalo -- $2.77 (up 8 cents since last week)
  • Ithaca -- $2.80 (up 7 cents since last week)
  • Rochester -- $2.80 (up 5 cents since last week)
  • Rome -- $2.80 (up 4 cents since last week)
  • Syracuse -- $2.78 (up 4 cents since last week)
  • Watertown -- $2.83 (up 5 cents since last week)

Easter: With Easter travel upon us, demand is putting pressure on already rising gas prices. Rochester and Syracuse schools are closed this week, which means many families are already traveling for Easter break -- new data from the Energy Information Administration (EIA) revealed that demand skyrocketed last week as families filled up their tanks for Easter getaways. With Buffalo area schools out next week, demand is expected to continue to increase.

Summer Blend: Spring gas prices continue to climb as the switchover to summer blend gasoline, which is more expensive to produce, becomes more prevalent. Unexpected and planned continued maintenance and demand increases across the nation have also contributed to the uptick.

Record Demand: At this point, current demand estimates signal that 2019 could bring the highest gasoline demand rates ever recorded by EIA — potentially as early as this summer. Shrinking supplies amid high demand will likely contribute to increased pump prices.

Oil Prices: Oil prices also climbed last week as a weaker dollar has boosted crude prices. OPEC and its partners continue to reduce crude production and OPEC is not expected to meet again until June.

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