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November 23, 2020 - 4:55pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.11, down 2 cents from one week ago. One year ago, the price was $2.59. The New York State average is $2.22 – down 1 cent from last week. A year ago, the NYS average was $2.69.

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

  • Batavia -- $2.18 (down 1 cent since last week)
  • Buffalo -- $2.18 (down 2 cents since last week)
  • Ithaca -- $2.18 (down 1 cent since last week)
  • Rochester -- $2.21 (down 2 cents since last week)
  • Rome -- $2.30 (down 1 cent since last week)
  • Syracuse -- $2.13 (down 2 cents since last week)
  • Watertown -- $2.28 (no change since last week)

The national average for a gallon of regular gasoline is down, while state and local prices follow. In a recent report from the Energy Information Administration (EIA), gas demand decreased, while total domestic stocks increased. That helped the national average to decrease this week. Demand may increase with the Thanksgiving holiday, but travelers should expect pump prices to remain much cheaper, and more affordable, than last year.

Meanwhile, crude prices have been fluctuating – they decreased amid rising coronavirus infection rates across the country, yet they increased amid growing market optimism that a vaccine for the coronavirus will soon be available. The current surge in the number of infections domestically has capped price gains while states increase measures meant to stop the spread of the virus.

From GasBuddy:

With Thanksgiving nearly upon us and fewer Americans hitting the road, gas prices have seen some downward movement over the last week, even as oil prices hold near recent highs," said Patrick De Haan, head of petroleum analysis for GasBuddy. "We may end up seeing the lowest Thanksgiving prices in five years if prices continue to trend lower this week, a sign of how the coronavirus has sapped demand for the majority of the year.

"Between now and the end of the year, we aren't likely to see many fireworks at the pump as demand continues to remain well below prior years, but as a vaccine is set to be released in the months ahead, prices will likely aim for higher ground, so motorists take heed that today's prices may not hold for much longer."

November 16, 2020 - 10:38am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.13, up 2 cents from one week ago. One year ago, the price was $2.60. The New York State average is $2.23 – up 1 cent from last week. A year ago, the New York State average was $2.69.

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

  • Batavia -- $2.19 (up 1 cent since last week)
  • Buffalo -- $2.20 (up 2 cents since last week)
  • Ithaca -- $2.19 (up 1 cent since last week)
  • Rochester -- $2.23 (up 1 cent since last week)
  • Rome -- $2.31 (up 1 cent since last week)
  • Syracuse -- $2.15 (up 1 cent since last week)
  • Watertown -- $2.28 (no change since last week)

The national average for a gallon of regular gasoline has increased by two cents in the past week, though it is still significantly cheaper than last year (-47 cents). In a report from the Energy Information Administration (EIA), gas demand increased while total domestic stocks decreased leading to that national average increase.

However, EIA’s weekly demand estimate is lower than last year’s rate at this time. Low overall demand will likely contribute to pump prices remaining low this season.

Domestic crude prices are fluctuating amid rising coronavirus infections worldwide, which could reduce global crude demand as countries impose new restrictions meant to stop the spread of the virus.

From GasBuddy:

"For the first time in seven weeks, GasBuddy data showed average gas prices rose last week, unsurprising given the previous 18-percent jump in the price of crude oil on promising vaccine news," said Patrick De Haan, head of petroleum analysis for GasBuddy. "This year has been anything but normal and such news of promising vaccine results will likely rekindle gas prices for a short while.

We're likely to see prices inch up slightly again this week as gas stations continue to try to pass along the rise from last week to retail, but ahead of Thanksgiving, prices should be mostly stable. For now, motorists shouldn't expect too many fireworks at the pump, but the upcoming release of GasBuddy's Holiday Travel survey highlights some big changes motorists are making for the last six weeks of the year."

November 9, 2020 - 9:40am
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.11, down 2 cents from one week ago. One year ago, the price was $2.62. The New York State average is $2.22 – down 1 cent 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 -- $2.18 (down 1 cent since last week)
  • Buffalo -- $2.18 (down 2 cents since last week)
  • Ithaca -- $2.18 (no change cent since last week)
  • Rochester -- $2.22 (no change since last week)
  • Rome -- $2.30 (no change since last week)
  • Syracuse -- $2.14 (down 1 cent since last week)
  • Watertown -- $2.28. (down 1 cent since last week)

The Energy Information Administration (EIA) reports that gas demand decreased again while total domestic stocks increased – pushing pump prices down. With demand remaining low, American drivers should expect pump prices to continue to decline.

Domestic crude prices fell last week due to market concern about increasing coronavirus infections worldwide, which could lower crude demand as countries impose new restrictions that will likely limit oil consumption. The drop in crude prices occurred despite EIA’s report showing that total domestic crude inventories dropped. Crude prices are up slightly this morning, so AAA will continue to monitor that activity.

From GasBuddy:

"As expected, previous weakness in oil has continued to translate into falling gasoline prices nearly nationwide as motorists cast their ballots last week, but the six-week trend could reverse on optimism that President-elect Biden may move quickly to get organized and Sen. Majority Leader McConnell has said stimulus is high on his agenda, aiding the economy and oil demand," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"As of late Sunday, a barrel of West Texas Intermediate crude oil was up over 8 percent compared to just last Monday, a solid rally that may eventually halt the decline in gasoline prices, should the optimism continue even against a backdrop of a continued global rise in coronavirus cases.

"It remains challenging to predict how the Presidential transition may occur, and if it drags the economy down, I could see pessimism and lower prices return, but for now, it appears that a solid dose of optimism may soon drive prices up."

November 2, 2020 - 12:30pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.13, down 3 cents from one week ago. One year ago, the price was $2.61. The New York State average is $2.23 – down 1 cent 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 -- $2.19 (down 1 cent since last week)
  • Buffalo -- $2.20 (down 1 cent since last week)
  • Ithaca -- $2.18 (no change since last week)
  • Rochester -- $2.22 (down 1 cent since last week)
  • Rome -- $2.30 (down 1 cent since last week)
  • Syracuse -- $2.15 (down 2 cents since last week)
  • Watertown -- $2.29 (no change since last week)

Refineries are switching over to winter-blend fuel, which is cheaper to produce and offers savings at the pump. As gas stations begin to sell the winter blend, we should see gas prices continue to drop.

The Energy Information Administration (EIA) reports that gas demand increased from 8.29 million barrels per day to 8.55 million b/d. However, the current estimate for demand is 1.23 million b/d lower than the rate at this time in 2019.

Low demand, as total domestic stocks decreased as well, has helped pump prices decrease. As demand remains low, American drivers should expect pump prices to continue to decline this fall.

From GasBuddy:

"The drop in gas prices has accelerated in the last week as oil prices continue to slide on uncertainty over the election, stimulus and as coronavirus case counts soar, leading to more states rolling back their reopening plans," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"In just the last few days, it feels like uncertainty over a potential legal fight over the U.S. election has also risen to near panic levels, all of which throws more uncertainty into the ring, keeping the United States from potentially having a clear leader to turn things around.

For now, it's virtually guaranteed that the national average will fall to under $2 per gallon in the next two weeks, so motorists need not be in a rush to fill their tanks."

October 26, 2020 - 12:02pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.16, down 1 cent from one week ago. One year ago, the price was $2.61. The New York State average is $2.24 – down 1 cent 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 -- $2.20 (no change since last week)
  • Buffalo -- $2.21 (down 1 cent since last week)
  • Ithaca -- $2.18 (no change since last week)
  • Rochester -- $2.23 (down 1 cent since last week)
  • Rome -- $2.31 (no change since last week)
  • Syracuse -- $2.17 (down 1 cent since last week)
  • Watertown -- $2.29 (down 1 cent since last week)

The Energy Information Administration (EIA), reports that gas demand is decreasing. Low demand, even as total domestic stocks increased, has helped to push pump prices down. As demand remains low, American drivers should expect pump prices to continue to decline this fall.

Domestic crude prices have increased despite market concern about increasing coronavirus infections worldwide, which could lower crude demand as countries impose new restrictions that will likely limit oil consumption. However, if demand concerns continue to weigh on the market, crude prices — and gas prices — could decrease.

From GasBuddy:

"Gas price trends continue to be typical for this time of year, easing slightly in most places as demand continues its slow seasonal drop, with potential enhancement from the recent surge in new coronavirus cases," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"More stations are falling back under $2 per gallon, in fact the highest amount of stations since May are now under that level, and I do believe that trend will continue at least for now as improvement in the coronavirus situation remains elusive.

"There may be minor disruption in price and localized supply challenges as Tropical Storm Zeta again takes aim for the Gulf Coast, but like we've seen with Laura, Sally and Delta, these issues have been very minor compared to a normal year due to the reduction in our gasoline appetite."

October 19, 2020 - 10:20am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.17, down 2 cents from one week ago. One year ago, the price was $2.65. The New York State average is $2.25 – the same as last week. A year ago, the NYS average was $2.70.

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

  • Batavia -- $2.20 (no change since last week)
  • Buffalo -- $2.22 (no change since last week)
  • Ithaca -- $2.1 (down 1 cent since last week)
  • Rochester -- $2.24 (no change since last week)
  • Rome -- $2.31 (no change since last week)
  • Syracuse -- $2.18 (down 1 cent since last week)
  • Watertown -- $2.30 (no change since last week)

The national average for a gallon of regular gasoline dropped to $2.17, which is significantly cheaper than last year (-48 cents). In a recent report from the Energy Information Administration (EIA), gas demand decreased slightly.

Domestic crude prices have also declined as market concern increased regarding an increase in coronavirus infections worldwide, which could lower crude demand as nations impose new restrictions to limit the spread of the virus. If demand concerns persist, crude prices could continue to decline — alongside pump prices.

GasBuddy:

"Gas prices have continued to remain subdued in large part due to the stalemate in Washington that's holding back another round of stimulus for Americans, which could boost the economy and oil demand and help Americans get back to work," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Absent some resolve from lawmakers to boost the economy, we're likely in store for another week of sideways price movements, keeping average gas prices near current levels for the fourth straight month. We may continue to see us stuck in this territory until there's meaningful change in our COVID-19 outlook."

October 12, 2020 - 9:35am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.19, the same as one week ago (and the same as the week before that.) One year ago, the price was $2.64. The New York State average is $2.25 – down 1 cent since last week. A year ago, the NYS average was $2.71.

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

  • Batavia -- $2.20 (down 1 cent since last week)
  • Buffalo -- $2.22 (down 1 cent since last week)
  • Ithaca -- $2.19 (no change since last week)
  • Rochester -- $2.24 (no change since last week)
  • Rome -- $2.31 (no change since last week)
  • Syracuse -- $2.19 (no change since last week)
  • Watertown -- $2.30 (no change since last week)

The national average for a gallon of regular gasoline remains at $2.19, which is significantly cheaper than last year (-45 cents).

In a recent report from the Energy Information Administration (EIA), gas demand grew, however, the current rate is approximately 600,000 barrels per day below last year’s rate in early October allowing prices to hold steady. Pump prices could decline if demand drops due to fewer road trips taken as the weather cools.

From GasBuddy:

"Average gasoline prices largely remain rangebound as the tug of war between market forces continues to keep prices confined near current levels," said Patrick De Haan, head of petroleum analysis for GasBuddy. "On one side, the coronavirus situation would be pulling prices down as year-to-date gasoline demand stands some 13-percent lower than last year, but on the positive side is the possibility of economic stimulus that could boost households ahead of the election if the two parties can manage to agree.

"For now, with little action on either issue, oil markets are seeing a good amount of speculation and seesawing, and that will continue until we have a clear answer on whether Washington will deliver more economic aid to hard hit Americans."

October 5, 2020 - 9:32am
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.19, the same as one week ago. One year ago, the price was $2.66. The New York State average is $2.26 – no change since last week. A year ago, the NYS average was $2.72.

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

  • Batavia -- $2.21 (no change since last week)
  • Buffalo -- $2.23 (no change since last week)
  • Ithaca -- $2.19 (down 1 cent since last week)
  • Rochester -- $2.24 (down 1 cent since last week)
  • Rome -- $2.31 (down 1 cent since last week)
  • Syracuse -- $2.19 (no change since last week)
  • Watertown -- $2.30 (down 2 cents since last week)

The national average for a gallon of regular gasoline remains at $2.19, which is the same price as a week ago, 3 cents less than a month ago, but still significantly cheaper than last year (-47 cents).

In the latest report from the Energy Information Administration (EIA), gas demand saw a slight uptick while domestic stocks also increased. Gas prices are expected to remain reasonable for the fall foliage travel season. Once the holiday season arrives, winter blend fuel will debut again, which is typically cheaper to produce, so gas prices are not expected to dramatically increase in the near future.

From GasBuddy:

"It's been a fairly quiet week for gas prices yet again, but with oil tanking last week, there's a possibility motorists may see a renewed downward direction in average prices in the days or weeks ahead," said Patrick De Haan, head of petroleum analysis for GasBuddy. "However, according to Pay with GasBuddy data, gasoline demand inexplicably rose last week to the highest level since August, breaking with conventional wisdom that fall demand is typically weak.

"While we have no direct reasoning for the rebound, five of seven days last week saw much above the prior week's gasoline demand, in fact, Friday saw the highest gasoline demand since Labor Day. If demand continues to somehow defy such conventional trends, we may see an end to the possibility of future declines."

September 28, 2020 - 2:47pm
posted by Press Release in gas prices, news.

Today’s national average price for a gallon of gasoline is $2.19, up 1 cent from last week. One year ago, the price was $2.65. The New York State average is $2.26 – down a penny since last week. A year ago, the NYS average was $2.74. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.21 (no change since last week)
  • Buffalo -- $2.23 (no change since last week)
  • Ithaca -- $2.20 (no change since last week)
  • Rochester -- $2.25 (no change since last week)
  • Rome -- $2.32 (no change since last week)
  • Syracuse -- $2.19 (down 2 cents since last week)
  • Watertown -- $2.32 (up 1 cent since last week)

In a recent report, the Energy Information Administration (EIA) noted a slight uptick in demand from 8.48 million barrels per day to 8/52, which pushed the national average price up by one penny. Meanwhile, local prices remain flat. With low pump prices and fall colors beginning to show, many travelers will be tempted to take fall getaways to enjoy the foliage.

From GasBuddy:

"Higher oil prices caused most states to see gas prices inch higher, with the national average rising ever so slightly in the last week, breaking its three week streak of declines," said Patrick De Haan, head of petroleum analysis for GasBuddy. "However, the rise is likely temporary as oil prices that had pushed higher gave up their gains last week and closed near the low-side of the range they've been in for quite some time.

"According to Pay with GasBuddy data, gasoline demand declined again last week, falling nearly 1 percent from the prior week, largely in line with expectations as we head into the first full week of fall. While the Atlantic is finally silent -- likely temporary -- really the only upside we could see over the coming months would be borne out of hurricane season, or if a COVID-19 vaccine proves successful in pushing demand back closer to normal."

September 21, 2020 - 11:13am
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.18, down 1 cent from last week. One year ago, the price was $2.67. The New York State average is $2.27 – down a penny since last week.

A year ago, the NYS average was $2.76. AAA Western and Central New York (AAA WCNY) reports the following averages now:

  • Batavia -- $2.21 (down 1 cent since last week)
  • Buffalo -- $2.23 (down 2 cents since last week)
  • Ithaca -- $2.20 (down 1 cent since last week)
  • Rochester -- $2.25 (down 1 cent since last week)
  • Rome -- $2.32 (no change since last week)
  • Syracuse -- $2.21 (down 1 cent since last week)
  • Watertown -- $2.31 (down 1 cent since last week)

Gas prices are down by a penny in most areas, and they are significantly cheaper than last year – the national average is 49 cents cheaper than one year ago. The Energy Information Administration (EIA) reports that gas demand saw a slight uptick, however, demand is still much lower than where it was at this time last year.

That lower demand has helped pump prices to decline this week and will likely help pump prices to continue their descent as fall approaches. Crude prices may continue to increase if supplies grow tighter, but demand challenges could contain potential growth in prices.

From GasBuddy:

"Gas prices have tiptoed lower with seasonal factors the primary driver, though with hurricane season continuing to be very active, sporadic shutdowns of oil rigs in the Gulf is leading to volatility in the price of oil, which may become a factor in the weeks ahead," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"With oil's rally back to $41 per barrel last week, the downturn in the national average may be put on pause for a couple of weeks, but we remain very likely to eventually continue to downward momentum into the heart of autumn. For now, we remain at the lowest prices seasonally since 2004 in most states, and largely, motorists can expect that to continue."

September 14, 2020 - 6:36am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.19, down 3 cents from last week. One year ago, the price was $2.57. The New York State average is $2.28 – down a penny since last week. A year ago, the NYS average was $2.73.

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

  • Batavia -- $2.22 (down a penny since last week)
  • Buffalo -- $2.25 (no change since last week)
  • Ithaca -- $2.21 (down 1 cent since last week)
  • Rochester -- $2.26 (down 1 cent since last week)
  • Rome -- $2.32 (down 1 cent since last week)
  • Syracuse -- $2.22 (down 2 cents since last week)
  • Watertown -- $2.32 (down 2 cents since last week)

With road trip season in the rearview mirror, pump prices have dropped along with demand. The Energy Information Administration reports that gasoline demand dropped last week, which is helping to bring pump prices down.

Low demand will likely help pump prices to continue their descent as summer fades to fall. Even back-to-school season didn’t lead to an increase in demand for gasoline since so many students are studying virtually.

From GasBuddy:

"Seasonal factors, as expected, are pushing gas prices down in most areas across the country. In addition, oil prices have hit a rough patch on renewed concerns about the economy and falling demand, leaving motorists the beneficiaries for the next few weeks," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"No one should be in a rush to fill up as prices will likely continue to trend lower, especially as the summer gasoline requirement ends on Tuesday, ushering in cheaper to produce winter gasoline and a return to less fragmentation in supply since winter gasoline is common nearly coast to coast, making it less of a headache to produce fuel since it can be used universally."

September 8, 2020 - 1:40pm
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.22, down 1 cent from last week. One year ago, the price was $2.56. The New York State average is $2.29 – the same as last week. A year ago, the NYS average was $2.74

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

  • Batavia -- $2.22 (down 2 cents since last week)
  • Buffalo -- $2.25 (down 1 cent since last week)
  • Ithaca - $2.21 (down 2 cents since last week)
  • Rochester -- $2.27 (down 2 cent since last week)
  • Rome -- $2.33 (no change since last week)
  • Syracuse -- $2.23 (down 1 cent since last week)
  • Watertown -- $2.34 (no change since last week)

Compared to last week, when local pump prices saw an increase after Hurricane Laura, prices are slowly dropping. Motorists saw plenty of savings at the pump from Memorial Day through Labor Day.

The national gas price average during the unofficial start and stop to summer was $2.15 -- the cheapest since 2004. Demand was decimated this summer, which ultimately meant increased supply and cheap gas prices. That trend continues.

“Summer may be fading into the rearview mirror, but less expensive gas prices are not,” said Elizabeth Carey, AAA spokesperson. “Moving into fall we traditionally see a drop in demand and further savings at the pump. This year that means pump prices could possibly push even lower then we’ve already seen in 2020.”

From GasBuddy:

"Gas prices have started to fall as expected as oil prices have fallen slightly since Hurricane Laura moved on and as seasonal challenges come to into view," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"We'll likely see additional downward movement in the weeks ahead with gasoline demand set to decline as we move into the fall months and as COVID-19 restrictions keep demand from rallying.

"It's entirely possible we could see the national average fall under $2 per gallon by the end of the year without a major improvement in the situation."

August 31, 2020 - 11:00am
posted by Press Release in gas prices, news.

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."

August 17, 2020 - 9:19am
posted by Press Release in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.18, the same for three consecutive weeks. One year ago, the price was $2.63. The New York State average is $2.25 – down 1 cent 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 - $2.21 (down 1 cent since last week)
  • Buffalo - $2.18 (no change since last week)
  • Ithaca - $2.18 (no change since last week)
  • Rochester - $2.21 (down 1 cent since last week)
  • Rome - $2.29 (down 1 cent since last week)
  • Syracuse - $2.17 (down 1 cent since last week)
  • Watertown - $2.28 (no change since last week)

Gas prices remain stable both locally and nationally. The national average price is parked at $2.18 again this week. As many schools begin to open down south, either remotely or in person, summer travel will slow and gasoline demand for leisure use should follow.

Here in the Northeast, gas demand for travel purposes will likely remain steady through Labor Day as families squeeze in final summer road trips. Current travel trends have families looking for destinations within New York State now while saving larger trips for 2021.

From GasBuddy:

"For the seventh-straight week and now some 53 days, the national average price of gasoline has stayed in a range of less than a nickel, an incredible feat for the summer driving season, and a level of summer stability we haven't seen in decades," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"However, with new data from the Pay with GasBuddy payments card showing weekly demand last week rose to a fresh coronavirus high, we may see some upside in oil prices propelled by the good news that demand is solidly moving higher again. Should demand continue to rebound, its only natural that with less oil on global markets, prices are likely to drift to the upside if the situation continues to improve."

August 10, 2020 - 3:16pm
posted by Press Release in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.18, the same for two weeks. One year ago, the price was $2.66. The New York State average is $2.26 – also the same for the last two weeks. A year ago, the NYS average was $2.85. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.22 (down 2 cents since last week)
  • Buffalo -- $2.18 (down 2 cents since last week)
  • Ithaca -- $2.18 (no change since last week)
  • Rochester -- $2.22 (down 1 cent since last week)
  • Rome -- $2.30 (up 1 cent since last week)
  • Syracuse -- $2.18 (down 1 cent since last week)
  • Watertown -- $2.28 (no change since last week)

The Energy Information Administration (EIA) released their new weekly report and revealed that gas demand fell. This decreasing demand for gasoline has helped pump prices stabilize, and if demand continues to drop, pump prices could push cheaper in the coming week.

From GasBuddy:

"Gas prices have remained in very familiar territory for the sixth-straight week as gasoline demand fell slightly last week, keeping oil prices confined as forces prevent it from falling under $39 but also from breaching $42 per barrel," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"However, as summer begins to fade, demand recovery may be limited, and there's a possibility we may see more downside potential in the last quarter of the year. Traditionally, gasoline demand weakens into the autumn, and as the coronavirus situation keeps more kids home and more parents from work, we may see a drop in gas prices as we progress through fall.

"However, since no one can predict when we may rebound from the coronavirus situation, nothing long term is set in stone, but we are on track for a seventh-straight week of stable gas prices."

August 3, 2020 - 2:03pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.18, the same as last week. One year ago, the price was $2.72. The New York State average is $2.26 – also the same as last week. A year ago, the NYS average was $2.87.

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

  • Batavia -- $2.23 (no change since last week)
  • Buffalo -- $2.20 (down 1 cent since last week)
  • Ithaca -- $2.18 (down 1 cent since last week)
  • Rochester -- $2.23 (down 1 cent since last week)
  • Rome -- $2.29 (down 1 cent since last week)
  • Syracuse -- $2.19 (down 1 cent since last week)
  • Watertown -- $2.28 (no change since since last week)

This week commences with many local pump prices dropping slightly. The national average remained unchanged since last week as the low fuel consumption trend continues.

Road trips are the preferred mode of travel, but travel levels are down significantly compared to last year. The decreasing demand for gasoline has helped pump prices to decrease nationally and locally and the Energy Information Administration (EIA) confirms that gas demand is down in the United States.

July 27, 2020 - 4:27pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.18, which is down two cents from a week ago. One year ago, the price was $2.74. The New York State average is $2.26 – down 1 cent from last week. A year ago, the NYS average was $2.88.

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

  • Batavia -- $2.23 (no change since last week)
  • Buffalo -- $2.21 (no change since last week)
  • Ithaca -- $2.19 (up 1 cent since last week)
  • Rochester -- $2.24 (up one cent since last week)
  • Rome -- $2.30 (no change since last week)
  • Syracuse -- $2.20 (no change since last week)
  • Watertown -- $2.28 (no change cent since last week)

Gas prices are mixed to start the week. The national average is down slightly as travel remains limited in some areas. While road trips are the main source of travel, travel levels are down significantly compared to last year. The Energy Information Administration (EIA), says gas demand is down in the U.S. Decreasing demand for gasoline has helped pump prices to decrease in the last week, and if demand continues to drop, we could see cheaper pump prices in the coming week.

From GasBuddy:

"We remain stuck in neutral when it comes to gasoline prices. While Pay with GasBuddy data showed a small rebound in gasoline demand, oil prices have again failed to break out, leading to yet another week of little change at the pump," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"It's a bit too early to tell if the small rise in gasoline demand last week will continue into this week, but it does seem the most likely situation. The V-shaped recovery in gasoline demand has been put on hold for nearly all of July as coronavirus cases surged, but once we recover from that and we see demand show several weeks of recovery, we'll likely see gas prices begin to tick higher. For now, however, that gives motorists more time to fill up without having to worry about big jumps in prices."

July 20, 2020 - 10:15am
posted by Howard B. Owens in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $2.20, 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."

July 13, 2020 - 10:59am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.20, which is two cents higher than a week ago. One year ago, the price was $2.79. The New York State average is $2.26 – 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 (down 2 cents since last week)
  • Buffalo -- $2.19 (no change since last week)
  • Ithaca -- $2.17 (up 2 cents since last week)
  • Rochester -- $2.21 (no change since last week)
  • Rome -- $2.28 (up 1 cent since last week)
  • Syracuse -- $2.16 (up 1 cent since last week)
  • Watertown -- $2.28 (no change cent since last week)

Demand for gasoline is slowly increasing according to the Energy Information Administration (EIA) as motorists enjoy summer road trips, malls reopen, and people head back to work.

Gas prices remain relatively cheap compared to past years. While the national average is up two cents in the past week, it is 59 cents less than last year while the New York State average is 63 cents cheaper than last summer.

AAA continues to see motorists requesting maps and tour books for summer road trips as cars are the most popular form of travel this summer.

GasBuddy:

"According to GasBuddy data, gasoline demand continues to struggle as of late, hitting some mid-summer blues as coronavirus cases continue to see upward movement in more states, but it hasn't been a sharp enough drop to push gas prices lower last week," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"While prices for this time of year remain the lowest in over 15 years, it's still easy to spend more than you need to on gas by letting your guard down, especially now with several states raising gasoline taxes in the midst of summer. For now, I continue to expect gas prices to move sideways -- that is -- the lack of a clear national trend for now, some will rise, some will fall, as we remain in a COVID-19 holding pattern."

July 6, 2020 - 11:17am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.18, which is 1 cent higher than a week ago. One year ago, the price was $2.76. The New York State average is $2.25 – a penny higher than last week. A year ago, the NYS average was $2.88.

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

  • Batavia -- $2.25 (up 4 cents since last week)
  • Buffalo -- $2.19 (no change since last week)
  • Ithaca -- $2.15 (down 1 cent since last week)
  • Rochester -- $2.21 (no change since last week)
  • Rome -- $2.27 (no change since last week)
  • Syracuse -- $2.15 (no change since last week)
  • Watertown -- $2.28 (up 1 cent since last week)

Despite the holiday weekend with many people traveling, gas prices remain steady across the United States and across the local region. In fact, motorists are seeing some of the cheapest summer prices than they have in recent years.

The national average is 58 cents less than last year while the New York State average is 63 cents cheaper than last summer at this time.

AAA continues to see motorists requesting maps and tour books for summer road trips as cars are the most popular form of travel this summer.

From GasBuddy:

"With July 4 behind us, we're now half way through the summer driving season, and the pace of gas price increases has finally hit a wall. As of Sunday evening, it appears possible that we may break the nine straight weeks of rising prices thanks to a drop in demand fueled by COVID-19 cases surging in some states," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"So far this summer, both holidays have seen the lowest prices since 2004, and its possible that if things don't improve much by Labor Day we could see the rare trifecta of every summer holiday setting multiyear lows. For now, I believe we may see increases stall and some minor increases or decreases until we see a solid change in the coronavirus situation. For now, some states will see slight increases, some may see slight decreases, but gas prices are essentially stuck in limbo."

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