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Increase in demand, Hurricane Laura push up gas prices

By Press Release

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.23, up 4 cents from last week. One year ago, the price was $2.58. The New York State average is $2.29 – up 4 cents from last week. A year ago, the NYS average was $2.77.

AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.24 (up 2 cents since last week)
  • Buffalo -- $2.26 (up 9 cents since last week)
  • Ithaca -- $2.23 (up 5 cents since last week)
  • Rochester -- $2.28 (up 7 cents since last week)
  • Rome -- $2.33 (up 3 cents since last week)
  • Syracuse -- $2.24 (up 7 cents since last week)
  • Watertown -- $2.34 (up 6 cents since last week)

Since our last press release alert on the impact of Hurricane Laura on gas prices, the national arrive increased by 4 cents. This jump can be attributed to both an increase in demand and Hurricane Laura. This increase in national pump prices has reached our local areas as we see a jump in prices locally.

From GasBuddy:

"Gas prices have reached their highest post-coronavirus level as Hurricane Laura caused Gulf Coast refineries to shut, limiting production as gasoline demand edged higher," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"The rebound in demand comes with just a week left in the summer driving season and isn't expected to continue once the driving season wraps up, but while some may see prices tick higher over the next few days, more decreases are coming to gas prices once Labor Day is over as demand will likely move lower.

"In addition, the switch back to cheaper winter gasoline will happen in a few weeks, giving more potential downward momentum for prices."

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