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May 10, 2021 - 11:57am
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.97, up 7 cents from last Monday and up three cents since Thursday. One year ago, the price was $1.84. The New York State average is $3 – up 5 cents from last week. A year ago, the NYS average was $2.16.

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

  • Batavia -- $2.94 (up 5 cents since last week)
  • Buffalo -- $2.93 (up 5 cents since last week)
  • Ithaca -- $2.95 (up 5 cents since last week)
  • Rochester -- $2.97 (up 6 cents since last week)
  • Rome -- $3.03 (up 6 cents since last week)
  • Syracuse -- $2.94 (up 5 cents since last week)
  • Watertown -- $3.03 (up 6 cents since last week)

A cyber attack has led to the Colonial Pipeline shutting down – the pipeline runs from Texas to New Jersey and supplies about half of the fuel that is used on the East Coast. The situation has led to an increase in oil prices and gas prices, which were already on the rise due to spring demand.

The impact will be based on the amount of time the pipeline is shut down - if the pipeline reopens in a matter of days, little disruption is expected. However, a longer shutdown could result in supply concerns and other issues. In 2016, the pipeline shutdown after an explosion, and gas prices increased, but there were no other problems in this region.

From GasBuddy:

"While average gas prices jumped last week as the nation continues to see COVID-19 recovery, all eyes are now on the Colonial Pipeline and the fact a cyberattack has completely shut all lines, leading to what could become a major challenge for fuel delivery," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"The situation is growing more intense each day that passes without the pipeline restarting, and motorists are advised to show extreme restraint or exacerbate and prolong the challenges. If the pipeline returns to service in the next day or two, the challenges will be minimal, but if full restart doesn't happen by then, we're likely to see a slight rise in gas prices, but more importantly, challenges for motorists needing fuel in Georgia, Tennessee, the Carolinas, Virginia, Northern Florida and surrounding areas.

"I'm hopeful the situation will quickly improve as multiple levels of government are involved, this may become a nightmare should it continue just ahead of the start of the summer driving season. GasBuddy will continue to watch the situation and update as necessary."

May 3, 2021 - 10:55am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.90, up 1 cent from last week. One year ago, the price was $1.78. The New York State average is $2.95 – up 3 cents from last week. A year ago, the NYS average was $2.16.

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

  • Batavia -- $2.89 (up 1 cent since last week)
  • Buffalo -- $2.88 (up 2 cents since last week)
  • Ithaca -- $2.90 (up 3 cents since last week)
  • Rochester -- $2.91 (up 3 cents since last week)
  • Rome -- $2.97 (up 2 cents since last week)
  • Syracuse -- $2.89 (up 1 cent since last week)
  • Watertown -- $2.97 (up 2 cents since last week)

Gasoline stocks increased in the United States last week and oil prices remain up over $60 per barrel. Prices jumped after OPEC confirmed plans to increase crude production in May. 

From GasBuddy:

"The nation's gas prices perked up again last week as oil prices advanced to fresh multi-year highs on Covid improvements overseas and the switch to summer gasoline, which is basically now complete," said Patrick De Haan, head of petroleum analysis for GasBuddy. "Last week saw the national average hit its highest level in two years, and with continued recovery in gasoline demand, the increase in price is likely to continue into the future.

"Americans may now want to brace themselves for the possibility of a $3/gal national average in the weeks ahead, as demand remains strong as Americans take to the roads. The question going forward is how much demand will continue to recover and rise -- will it lead to record summer gasoline demand? We indeed may see some weeks with new records as Americans get in their cars this summer -- but the question is, how many will do so? That will determine how much higher prices will go."

April 26, 2021 - 11:45am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.89, up 2 cents from last week. One year ago, the price was $1.78. The New York State average is $2.92 – up 3 cents from last week. A year ago, the NYS average was $2.19.

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

  • Batavia -- $2.88 (up 3 cents since last week)
  • Buffalo -- $2.86 (up 4 cents since last week)
  • Ithaca -- $2.87 (up 1 cent since last week)
  • Rochester -- $2.88 (up 1 cent since last week)
  • Rome -- $2.95 (up 1 cent since last week)
  • Syracuse -- $2.88 (up 1 cents since last week)
  • Watertown -- $2.95 (no change since last week)

Last week’s demand estimate is one of the highest since March 2020. A year ago, social distancing restrictions were established that dramatically reduced gas demand.

Now, the demand for fuel is in line with the typical spring driving season rates seen pre-pandemic. Continued growth in total domestic supply will likely help to keep pump prices from spiking dramatically.

From GasBuddy:

"Last week saw limited upward movement in gas prices, tying the previous high water mark we last saw in March, signaling that perhaps we may see additional upside as most states in the nation have finished the transition to EPA-mandated summer gasoline," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"While gasoline demand did dip last week for the third straight week according to GasBuddy data, it was yet another small decline, and as temperatures continue to warm ahead of summer, it wouldn't surprise me that demand will rebound in the weeks ahead and we could continue to see gas prices push higher.

"For now, however, it doesn't appear that any rise in price would be significant, so motorists shouldn't be too concerned at this point, but may see see average prices inch higher."

April 19, 2021 - 9:08am
posted by Press Release in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.87, up 1 cent from last week. One year ago, the price was $1.82. The New York State average is $2.89 – no change from last week. A year ago, the NYS average was $2.23.

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

  • Batavia -- $2.85 (up 1 cent since last week)
  • Buffalo -- $2.82 (no change since last week)
  • Ithaca -- $2.86 (down 1 cent since last week)
  • Rochester -- $2.87 (no change since last week)
  • Rome -- $2.94 (up 1 cent since last week)
  • Syracuse -- $2.85 (no change since last week)
  • Watertown -- $2.95 (no change since last week)

The national average gas price is now $2.87 – up $1.05 from last year when most of the country was on lockdown. Current demand has tapered since Easter vacations are complete. Demand will likely increase as more communities open and students head back to in-person learning. Gasoline stocks recovered with an increase last week keeping gas prices flat. Typically gas prices reach their highest level of the year as Memorial Day approaches.

From GasBuddy:

"Gas prices have remained largely stable in the last week across much of the country with the exception of the West Coast, where prices in some areas continue to advance, mainly in California as summer gasoline and healthy demand have boosted prices, but for everyone else, we're far removed from the fast pace of increases we saw earlier this year," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Gasoline demand has given up ground for the second straight week, likely due to some areas seeing a rise in coronavirus cases, and as spring break plans conclude. The next trend in gas prices isn't evident just yet, we may see additional slight sideways moves in the weeks ahead, until either demand starts to increase notably again, or we see the opposite."

April 12, 2021 - 8:22am
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.86, down 1 cent from last week. One year ago, the price was $1.87. The New York State average is $2.89 – down a penny from last week. A year ago, the NYS average was $2.26.

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

  • Batavia-- $2.84 (down 1 cent since last week)
  • Buffalo -- $2.82 (no change since last week)
  • Ithaca --$2.87 (down 1 cent since last week)
  • Rochester -- $2.87 (no change since last week)
  • Rome -- $2.93 (no change since last week)
  • Syracuse -- $2.85 (no change since last week)
  • Watertown -- $2.95 (no change since last week)

Vaccinations, warmer weather and Easter travel all contributed to an increase in demand for gasoline this past week. Due to the jump in demand, gasoline supplies tightened and reached their lowest level of the year.

Meanwhile, oil prices are down a bit this morning, which could help keep gas prices below $3 per gallon.

From GasBuddy:

"It has been a fairly tame last few weeks at the pump for most areas after a particularly active February and March when prices were screaming higher," said Patrick De Haan, head of petroleum analysis for GasBuddy. "After surging back then, we've seen the price increases fade, and while we haven't seen much of a decline, prices have been holding near their yearly highs.

"For now, it feels like the risk of seeing the national average climb to $3/gal has been delayed by a recent surge in COVID-19 cases both here and abroad, limiting the upside to gasoline demand.

"But should things begin to improve, especially as we get closer to the start of the summer, we still have potential to see summer gas prices at their highest levels in years. Make no mistake, gas prices this year will be tied to the hip of the COVID situation."

April 5, 2021 - 12:08pm
posted by Press Release in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.87, up 1 cent from last week. One year ago, the price was $1.94. The New York State average is $2.90 – down a penny from last week. A year ago, the NYS average was $2.30.

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

  • Batavia -- $2.85 (up 1 cent since last week)
  • Buffalo -- $2.82 (down 1 cent since last week)
  • Ithaca -- $2.88 (no change since last week)
  • Rochester -- $2.87 (down 1 cent since last week)
  • Rome -- $2.93 (no change since last week)
  • Syracuse -- $2.85 (down 1 cent since last week)
  • Watertown -- $2.95 (no change since last week)

Oil prices are down a bit while Easter travel is in full swing, leading to mixed news on gas prices. Demand is up as many families are traveling for Easter break. At the same time, refineries are switching over to summer-blend gasoline, which is more expensive to produce. Gas prices typically reach their highest level of the year as we approach Memorial Day.

From GasBuddy:

"Last week was a mixed bag for consumers at the pump as gas prices in half of states rose, while the other half saw declines, with March closing like a lamb after starting out like a lion," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Oil prices have shown signs of strength in the last few trading sessions, as OPEC agreed to raise oil production starting in May by a very modest 350,000 barrels per day. Overall, it's a small increase in output as global demand continues to show strength in light of Covid-related improvements.

"U.S. gasoline demand rose for the sixth straight week as consumers hit the road for Easter, and with demand growth likely to remain robust, we may see a second attempt at a run at a national average of $3 per gallon in the months ahead. While the last few weeks have seen gas prices hold mostly steady, it's not likely to last forever, especially as Americans increasingly get outside as warmer temperatures return."

March 29, 2021 - 10:18am
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.86, down 2 cents from last week. One year ago, the price was $2.02. The New York State average is $2.91 – no change from last week. A year ago, the NYS average was $2.34.

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

  • Batavia -- $2.84 (down 1 cent since last week)
  • Buffalo -- $2.83 (no change since last week)
  • Ithaca -- $2.88 (no change since last week)
  • Rochester -- $2.88 (down 1 cent since last week)
  • Rome -- $2.93 (down 1 cent since last week)
  • Syracuse -- $2.86 (down 1 cent since last week)
  • Watertown -- $2.95 (no change since last week)

Growing stock levels have helped to put downward pressure on pump prices, according to the latest weekly report from the Energy Information Administration (EIA).

The national average decreased despite rising gas demand, which will likely continue through the Easter travel week.

Crude prices dropped last week due to continuing market concern that crude demand will drop as Europe increases restrictions to curb growing coronavirus infection rates and now hover at $60 to $64 per barrel.

There are concerns, however, that the blocked congested Suez Canal will stall slow the supply chain for petrochemical products coming from the Middle East, leading to a possible spike in prices.

From GasBuddy: 

"After the feverish rise in gas prices to start the year, increases have largely tapered off and we're now seeing decreasing prices in most areas of the country, thanks to oil prices that have moderated for the time being," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"As the Suez Canal has remained was blocked for nearly a week, we could see some volatility in the price of oil this week as the market digests any updates as hundreds of ships remain in limbo.

"Back stateside, refiners have made the switch to summer gasoline and price impacts have been limited thus far, but demand for gasoline remains strong. Last week saw total gasoline demand at yet another pandemic high according to GasBuddy data.

"As we approach warmer weather and motorists are increasingly getting outside, it could drive prices higher, so long as COVID-19 cases don't jump along with it and lead to new travel restrictions."

March 22, 2021 - 10:31am
posted by Press Release in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.88, up 2 cents from last week. One year ago, the price was $2.14. The New York State average is $2.91 – up a penny from last week. A year ago, the NYS average was $2.41.

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

  • Batavia -- $2.85 (up 1 cent since last week)
  • Buffalo -- $2.83 (up 1 cent since last week)
  • Ithaca -- $2.88 (up 1 cent since last week)
  • Rochester -- $2.89 (up 2 cents since last week)
  • Rome -- $2.94 (up 2 cents since last week)
  • Syracuse -- $2.87 (up 2 cents since last week)
  • Watertown -- $2.95 (up 3 cents since last week)

Gas prices continue to increase this week. However, increased gasoline stocks and a decrease in demand have helped to slow the rate at which prices have increased. Total domestic gas stocks are up while demand is down slightly.

Gas prices continue to increase, but if these trends continue, prices will increase at a slower rate than Americans have seen since the beginning of the month.

Crude prices are fluctuating over market concern that demand may stumble as some countries restart coronavirus restrictions to curb growing infection rates. 

GasBuddy:

"With oil prices finally sagging over the last week on inflation fears and worries about a surge in COVID-19 cases in Europe impacting oil demand, motorists filling their tanks may soon see a brief respite from rising gas prices," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"While gasoline demand last week rose to its highest level since the pandemic began, concerns that oil demand growth will stall with COVID-19 cases surging in Europe are eroding oil's recent rise. While gas prices still rose in a majority of states last week, we may see some price decreases in the week or weeks ahead, even as U.S. gasoline demand continues to rally to the highest level since the pandemic started nearly a year ago.

"It'll be a bumpy road the next few weeks as markets sort out the bearish and bullish factors, but I still believe prices will likely experience more upward momentum ahead of Memorial Day."

March 15, 2021 - 10:22am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.86, up 9 cents from last week. One year ago, the price was $2.27. The New York State average is $2.90 – up 7 cents from last week. A year ago, the NYS average was $2.50.

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

  • Batavia -- $2.84 (up 8 cents since last week)
  • Buffalo -- $2.82 (up 5 cents since last week)
  • Ithaca -- $2.87 (up 7 cents since last week)
  • Rochester -- $2.87 (up 6 cents since last week)
  • Rome -- $2.92 (up 6 cents since last week)
  • Syracuse -- $2.85 (up 5 cents since last week)
  • Watertown -- $2.92 (up 6 cents since last week)

Rising crude prices, tightening gas supplies, and increased gas demand continue to drive pump prices to higher ground. According to new data from the Energy Information Administration (EIA), total domestic gas stocks are down while demand is up. Last week’s demand measurement is the highest since the end of November 2020. If these trends continue alongside higher crude prices, drivers can expect pump prices to increase.

From GasBuddy:

"As Americans turn optimistic on COVID-19 pandemic recovery, we've been seeing insatiable demand for gasoline, which continues to recover far faster than oil production," said Patrick De Haan, head of petroleum analysis for GasBuddy. "According to GasBuddy data, last week's gasoline demand was just 1 percent below the pre-pandemic level, an extremely bullish factor likely to continue driving gas and oil prices up in the short term.

"The recovery in the last few weeks has been astounding -- both the speed and overall volume increases we've seen in our data lend credibility to the recovery, and perhaps will lead to continued price increases due to the continued imbalance between supply and demand.

"It's no longer a question of if we'll see gasoline demand return to near normal this year but when, and will oil producers rise to the occasion and be able to quickly ramp up output, or are we going to see the highest summer prices since 2014 until they jump into action? Only time will tell, but it's looking like things are heating up far more than expected since the start of the year."

March 8, 2021 - 9:20am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.77, up 5 cents from last week. One year ago, the price was $2.39. The New York State average is $2.83 – up 5 cents from last week. A year ago, the NYS average was $2.57.

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

  • Batavia -- $2.76 (up 4 cents since last week)
  • Buffalo -- $2.77 (up 4 cents since last week)
  • Ithaca -- $2.80 (up 3 cents since last week)
  • Rochester -- $2.81 (up 5 cents since last week)
  • Rome -- $2.84 (up 4 cents since last week)
  • Syracuse -- $2.80 (up 5 cents since last week)
  • Watertown -- $2.86 (up 6 cents since last week)

Rising crude prices, tightening gas supplies, and increased gas demand have contributed to drivers seeing higher prices at the pump. According to the latest data from the Energy Information Administration (EIA), total domestic gas stocks decreased as demand is on the rise.

If these trends continue alongside higher crude prices, drivers can expect incremental price increases — of at least nickel — at their local gas stations in March. At the same time, motorists have yet to see any relief from gas price spikes following outages at Gulf Coast refineries.

Crude prices continue to push closer to $70 per barrel – they were in negative territory, under $0 per barrel, in April 2020. Last week, crude prices increased after the Organization of the Petroleum Exporting Countries (OPEC) decided with its allies, including Russia, to maintain existing crude production cuts through April. Additionally, Saudi Arabia — a member of OPEC — agreed to extend its voluntary production cut. Rising oil prices have a direct impact on pump prices.

From GasBuddy:

"OPEC surprised oil markets last week by extending oil production cuts for another month, ignoring the resurgence in global demand as economies recover from COVID-19," said Patrick De Haan, head of petroleum analysis for GasBuddy. "Markets responded by pushing oil prices up some 12 percent.

"As a result, motorists should prepare for further gas price increases in the weeks and potentially months ahead, with a $3 per gallon national average potentially less than a month away. At the start of this year, it was somewhat outlandish to predict a $3 per gallon national average for the summer driving season, but thanks to the speed of recovery from the pandemic pushing demand higher and OPEC's reluctance to raise oil production, we're on the cusp of making that a reality.

"It's extremely frustrating as a consumer to feel helpless as prices soar and as millions remain unemployed, so the only advice I can offer consumers is prepare for further increases, and to mitigate rising prices, shop around for the low prices every time you need to refuel. I'm hopeful OPEC will see the error in their ways at next month's meeting, but with demand exceeding supply, the longer the imbalance continues, the longer it will take for any rise in oil production to offset it."

March 1, 2021 - 12:45pm
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.72, up 8 cents from last week. One year ago, the price was $2.44. The New York State average is $2.78 – up 8 cents from last week. A year ago, the NYS average was $2.60.

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

  • Batavia -- $2.72 (up 9 cents since last week)
  • Buffalo - $2.72 (up 7 cents since last week)
  • Ithaca -- $2.77 (up 9 cents since last week)
  • Rochester -- $2.76 (up 9 cents since last week)
  • Rome -- $2.80 (up 8 cents since last week)
  • Syracuse -- $2.75 (up 9 cents since last week)
  • Watertown -- $2.80 (up 8 cents since last week)

The national average continues to increase as crude prices march higher. Gas prices have also increased from longer-than-expected refinery outages due to last week’s winter storm that impacted the Gulf Coast.

As refineries restart and resume normal operations, supply is expected to increase in impacted areas and should bring stability to pump prices. Until then, most drivers should expect pump prices to continue increasing.

From GasBuddy:

"Gas prices continued to surge last week following cold weather-related shutdowns in Texas, but going forward, the impact from the cold has likely run its course," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"However, several other factors will rise in their influence on gas prices again, including the fact that gasoline demand continues up steam. According to Pay with GasBuddy data, last week's total gasoline demand soared to the highest level since the pandemic began as COVID-19 cases continue to drop and Americans are filling up more.

"On the supply side, the number of oil rigs active in the U.S. stands nearly 50-percent lower than a year ago, which is a large factor driving prices up. To put it simply, demand is recovering much much faster than oil production levels, which is why oil prices have soared.

"This week, OPEC will be meeting to hopefully increase oil production to temper the rise in prices, but will they increase oil production enough to match the growing appetite of a global economy that's seen oil demand jump? We'll have to wait and see."

February 22, 2021 - 12:57pm
posted by Press Release in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.64, up 13 cents from last week. One year ago, the price was $2.47. The New York State average is $2.70 – up 10 cents from last week. A year ago, the NYS average was $2.61.

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

  • Batavia -- $2.63 (up 11 cents since last week)
  • Buffalo -- $2.65 (up 13 cents since last week)
  • Ithaca -- $2.68 (up 12 cents since last week)
  • Rochester -- $2.67 (up 12 cents since last week)
  • Rome -- $2.72 (up 9 cents since last week)
  • Syracuse -- $2.66 (up 12 cents since last week)
  • Watertown -- $2.72 (up 9 cents since last week)

Pump prices continue to increase again this week. New York State average gas prices are on par with last year's level. In the Western and Central New York region, many prices have increased 10 cents, or more, in just a week.

The winter weather continues to impact Gulf Coast refineries' ability to operate and gas supplies. Until refineries resume normal operations, supply is expected to remain tight in impacted areas.

From GasBuddy:

"With last week's extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time," said Patrick De Haan, head of petroleum analysis for GasBuddy. "The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment.

"With the cold weather behind us, price increases show begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks. However, as we near spring weather, we'll likely see another longer-term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn't jump for joy just yet."

February 18, 2021 - 12:38pm
posted by Howard B. Owens in gas prices, news.

Press release:

Statement from AAA’s national office regarding Gulf Coast refineries and gas prices:

Since Monday, the national gas price average has increased seven cents to $2.575 ($2.58). This quick four-day jump is a direct result of all major Gulf Coast refineries being impacted by the recent storm, which has caused gas supplies to tighten and pump prices to increase.

The situation is very similar to a Gulf Coast hurricane’s impact. Refineries come offline, and until damage (if any) is assessed and operations are back up and running, supply is tight, especially with road conditions and power outages (mostly in Texas) reducing fuel deliveries – if stations even have power to accept them.

Until things thaw out and Gulf Coast refineries are running again (likely early next week), we do expect more expensive pump prices across the country, varying another 5-15 cents.

We urge motorists in the impacted areas to stay off the road and not rush to get gas. Gasoline will flow into stations as power is restored and roads are cleared. We are seeing temporary outages, not a shortage. On Monday the Colonial Pipeline reported no impact from the storm, which will aid in refueling quickly once roads can be traveled.

As in any national or local state of emergency, AAA expects gas prices to be held in check -- up and down the gasoline supply chain -- including prices set by refiners, distributors and dealers. If motorists are concerned about price gouging, they should contact their state’s Attorney General office.

Today’s (2/18/21) local gas price update:

The New York State average is $2.65 – up 5 cents since Monday. A year ago, the NYS average was $2.61.

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

  • Batavia -- $2.54 (up 2 cents since Monday)
  • Buffalo -- $2.56 (up 4 cents since Monday)
  • Ithaca -- $2.58 (up 2 cents since Monday)
  • Rochester -- $2.59 (up 4 cents since Monday)
  • Rome -- $2.67 (up 4 cents since Monday)
  • Syracuse -- $2.57 (up 3 cents since Monday)
  • Watertown -- $2.67 (up 4 cents since Monday)
February 15, 2021 - 10:29am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.51, up 4 cents from last week. One year ago, the price was $2.44. The New York State average is $2.60 – up 4 cents from last week. A year ago, the NYS average was $2.62.

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

  • Batavia -- $2.52 (up 8 cents since last week, 7 cents less than last year)
  • Buffalo -- $2.52 (up 5 cents since last week, 4 cents less than last year)
  • Ithaca -- $2.56 (up 6 cents since last week, 7 cents less than last year)
  • Rochester -- $2.55 (up 5 cents since last week, 2 cents less than last year)
  • Rome -- $2.63 (up 5 cents since last week, 1 penny more than last year)
  • Syracuse -- $2.54 (up 6 cents since last week, 5 cents more than last year)
  • Watertown -- $2.63 (up 4 cents since last week, same price as last year)

Pump prices continue to increase again this week. In many areas across the country, gas prices have surpassed last year’s level. In Central New York, Watertown is on par with last year while Syracuse and Rome prices are slightly higher than one year ago. Other areas have not reached last year’s level as noted in the above list.

Increasing pump prices have been supported by higher crude oil prices and gas demand, which grew slightly last week though it remains lower than pre-pandemic levels, according to new data from the Energy Information Administration (EIA). Based on current trends, drivers will likely see pump prices continue to increase ahead of spring.

Last week, on Wednesday, crude prices reached the highest daily settlement price since January 2020. Crude and pump prices are likely to continue to move higher as crude inventories continue to drop and refinery utilization increases.

From GasBuddy:

"It's not surprising that gasoline prices continue to follow oil prices higher, as the national average now stands at its highest level since January 2020 as Pay with GasBuddy data shows U.S. gasoline demand rose over 2 percent last week," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"The rise in gas prices continues to be driven by improving demand in the United States, and has nothing to do with who sits in the White House, but rather how many motorists are filing their tanks on a daily basis, and from that data, it's no guess, but prices will continue to trend higher.

"This situation will last as long as OPEC continues to restrain their oil production, creating the situation we're in where demand is recovering faster than demand. The situation won't get better, just wait until spring, it's likely the national average will rise another 10 to as much as 50 cents per gallon if oil production doesn't respond to the continued recovery in demand."

February 8, 2021 - 10:22am
posted by Howard B. Owens in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.47, up 5 cents from last week. One year ago, the price was $2.44. The New York State average is $2.51 – up 5 cents from last week. A year ago, the NYS average was $2.64.

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

  • Batavia -- $2.44 (up 5 cents since last week)
  • Buffalo -- $2.47 (up 4 cents since last week)
  • Ithaca -- $2.50 (up 3 cents since last week)
  • Rochester -- $2.50 (up 3 cents since last week)
  • Rome -- $2.58 (up 5 cents since last week)
  • Syracuse -- $2.48 (up 5 cents since last week)
  • Watertown -- $2.59 (up 5 cents since last week)

Pump prices continue to increase while the latest data from the Energy Information Administration (EIA) shows that gas demand decreased slightly.

This morning, WTI crude increased is priced by more than $57, which is the highest settlement price of the year. Crude prices rose last week after the Organization of the Petroleum Exporting Countries (OPEC) and its production reduction agreement partners met to review compliance with their agreement to collectively reduce their crude production by 7.2 million barrels per day. The group decided to hold the cuts steady and expects output to remain low this year, since demand is forecasted to be lower than expected throughout 2021 due to ongoing crude demand concerns as the pandemic continues to keep travel restrictions in place. An increase in crude utilization and increasing crude prices will continue to contribute to higher pump prices for drivers throughout the month.

From GasBuddy:

"Many factors continue to push oil prices higher, but at the foundation of the rise is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing U.S. gas prices higher," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Until OPEC intercedes and raises oil production in the months ahead, motorists should continue to expect rising gas prices, which for the first time some time stand at their highest in over a year, adding misery to the dire economic situation as millions remain jobless.

"The news won't likely improve in the months ahead, with continued increases in gas prices as OPEC maintains a tight balance between reduced demand and supply, keeping prices on the higher side."

February 1, 2021 - 1:14pm
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.42, up 2 cents from last week. One year ago, the price was $2.48. The New York State average is $2.51 – up 2 cents from last week. A year ago, the NYS average was $2.66.

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

  • Batavia -- $2.39 (up 1 cent since last week)
  • Buffalo -- $2.43 (up 1 cent since last week)
  • Ithaca -- $2.47 (no change since last week)
  • Rochester -- $2.46 (up 1 cent since last week)
  • Rome -- $2.53 (up 2 cents since last week)
  • Syracuse -- $2.43 (up 1 cent since last week)
  • Watertown -- $2.54 (up 2 cents since last week)

The national average for a gallon of regular gasoline is now $2.42, only 6 cents less than last year at this time. Local prices still have a larger disparity compared to last year. Pump prices are increasing while gas demand is dropping, according to data from the Energy Information Administration (EIA). Although gas demand dropped, and total refinery utilization decreased, pump prices have increased moderately, signaling that expensive crude oil prices are driving the price.

As of this morning, WTI crude is priced over $52 a barrel. Recently market concerns signaled that crude demand may take more time than expected to recover this year due to new coronavirus infections and associated travel restrictions.

From GasBuddy:

"Gas price increases continue to slow down as oil prices fail to continue moving upward, even as gasoline demand continues to show new signs of improving recovery," said Patrick De Haan, head of petroleum analysis for GasBuddy. "According to Pay with GasBuddy data, Friday gasoline demand was the highest since November, while Saturday gasoline demand was the strongest of any Saturday since the pandemic began.

"The rise in gasoline demand has certainly been behind oil's rally in the last few months, as COVID restrictions continue to ease and the economy slowly continues recovery. While the next few weeks may see gas prices rising slightly, the real pinch could come in March and lasting through summer, should demand continue on this path."

January 25, 2021 - 4:40pm
posted by Press Release in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.40, up 1 cent from last week. One year ago, the price was $2.53. The New York State average is $2.49 – up 2 cents from last week. A year ago, the NYS average was $2.70.

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

  • Batavia -- $2.38 (down 1 cent since last week)
  • Buffalo -- $2.42 (down 1 cent since last week)
  • Ithaca -- $2.47 (up 1 cent since last week)
  • Rochester -- $2.45 (no change since last week)
  • Rome -- $2.51 (up 3 cents since last week)
  • Syracuse -- $2.42 (no change since last week)
  • Watertown -- $2.52 (up 1 cent since last week)

Pump prices have leveled off in most areas. Gas demand increased substantially according to the Energy Information Administration (EIA) while total domestic gasoline supplies decreased. Total crude utilization across domestic refineries took a small step forward from 82 percent to 82.5 percent.

All of these factors, including sustained higher crude prices, have contributed to higher pump prices for drivers and will likely lead to continued increases in pump prices in the weeks ahead.

Crude prices, while on the rise, are fluctuating amid growing market concern that crude demand may continue to suffer as coronavirus infections rise and travel restrictions, which are meant to curb transmission of the virus, reduce crude demand.

From GasBuddy:

"Finally, after several weeks of sharply rising gas prices, the pace of price increases has slowed significantly in recent days as prices are now largely caught up to oil's increases as of late," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"While the national average remains at its highest level since the pandemic, increases are likely to slow down in the immediate short-term unless and until oil prices see renewed momentum.

"When it comes to demand, Pay with GasBuddy data showed last week's gasoline demand at its highest level since November, another bullish factor as the nation continues to see slow improvement from the pandemic."

January 18, 2021 - 1:57pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.39, up 7 cents from last week. One year ago, the price was $2.55. The New York State average is $2.47 – up 8 cents from last week. A year ago, the NYS average was $2.71.

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

  • Batavia -- $2.39 (up 8 cents since last week)
  • Buffalo -- $2.43 (up 10 cents since last week)
  • Ithaca -- $2.46 (up 11 cents since last week)
  • Rochester -- $2.45 (up 9 cents since last week)
  • Rome -- $2.48 (up 6 cents since last week)
  • Syracuse -- $2.42 (up 8 cents since last week)
  • Watertown -- $2.51 (up 10 cents since last week)

Crude prices have been fluctuating and remain over $50 per barrel. The current price this morning is $52 per barrel. Prices rose over market optimism that coronavirus vaccines will help crude demand recover this year. Additionally, EIA’s recent report helped bolster prices, detailing that total domestic crude inventories are on the decline.

If crude prices continue to sustain prices above $50 per barrel alongside higher refinery utilization rates and demand, drivers could see pump prices remain at elevated levels. Current prices are up across the region, but they remain lower than one year ago.

From GasBuddy:

"Gas prices have jumped to yet another multi-month high as crude oil price rise amidst perceived improvement in the COVID-19 pandemic, which continues to pump prices up as demand shows renewed signs of recovery," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"In addition, with rumors swirling that President-elect Biden plans to cancel the approval of the Keystone XL pipeline, which would cut off reliable Canadian oil to the United States, oil prices may see additional pressure in the coming days. For now, the upward trend in gas prices may slow from the sharp rise in the last week, but motorists shouldn't expect much of a break from rising gas prices, which now stand less than 20 cents from their year-ago levels."

January 11, 2021 - 11:45am
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.32, up 6 cents from last week. One year ago, the price was $2.59. The New York State average is $2.39 – up 6 cents from last week. A year ago, the NYS average was $2.73.

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

  • Batavia -- $2.31 (up 4 cents since last week)
  • Buffalo -- $2.33 (up 7 cents since last week)
  • Ithaca -- $2.35 (up 5 cents since last week)
  • Rochester -- $2.36 (up 6 cents since last week)
  • Rome -- $2.42 (up 4 cents since last week)
  • Syracuse -- $2.34 (up 6 cents since last week)
  • Watertown -- $2.41 (up 5 cents since last week)

Pump prices are on the rise despite gas demand falling to the lowest level recorded since the end of May 2020. Domestic crude prices climbed above $50 per barrel while total refinery utilization increased from 79 percent to 81 percent leading to higher pump prices.

If crude prices continue to stay above $50 per barrel - WTI is $51.71 this morning -- alongside higher refinery utilization rates, drivers could see pump prices continue to climb, which is unusual given that low winter gas demand typically pushes prices to their lowest point of the year.

Crude prices increased last week after Saudi Arabia announced that it would cut its crude production by 1 million barrels per day in February and March after the Organization of the Petroleum Exporting Countries (OPEC) met with its partners, including Russia and Kazakhstan, to discuss their ongoing production reduction agreement. If total domestic crude supply continues to drop, crude prices could continue to increase and push pump prices higher.

From GasBuddy:

"With oil's meteoric rally continuing, motorists continue to face gas prices that continue to advance. With a barrel of crude oil now at its highest level in nearly a year, there's no where for gas prices to go but up," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"In a normal year, this is the time we tend to see gas prices struggle, and according to Pay with GasBuddy data, gasoline demand is indeed seeing seasonal struggles, but that has not tempered the appetite of the market as many remain bullish over the continued rollout of a COVID-19 vaccine. How long we may be on this road relies on continued reduction in new COVID cases, but we may for the coming weeks seeing gas prices continuing their climb."

January 4, 2021 - 9:24am
posted by Press Release in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.26, up 1 cent from last week. One year ago, the price was $2.59. The New York State average is $2.33 – up 1 cent from last week. A year ago, the NYS average was $2.72. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.27 (up 2 cents since last week)
  • Buffalo -- $2.26 (down 1 cent since last week)
  • Ithaca -- $2.30 (up 1 cent since last week)
  • Rochester -- $2.30 (no change since last week)
  • Rome -- $2.38 (up 1 cent since last week)
  • Syracuse -- $2.28 (down 1 cent since last week)
  • Watertown -- $2.36 (no change since last week)

Upward price movement at the state level has pushed the national gas price average up to the highest level since stay-at-home guidance was issued in mid-March. This is the result of higher oil prices -- crude oil pricing reached the highest levels since February.

The month of December has seen the biggest pump price jump of any month this year, ending with a national average of 11 cents higher than it began. Despite low demand, pump prices are more expensive because crude oil has seen steady gains. However, gas prices remain much lower than one year ago.

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