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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."

June 29, 2020 - 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 $2.17, which is 4 cents higher than a week ago. One year ago, the price was $2.72.

The New York State average is $2.24 – a penny higher than last week. A year ago, the NYS average was $2.87.

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

  • Batavia -- $2.21 (down 4 cents since last week)
  • Buffalo -- $2.19 (no change since last week)
  • Ithaca -- $2.16 (up 3 cents since last week)
  • Rochester -- $2.21 (up 1 cent since last week)
  • Rome -- $2.27 (up 2 cents since last week)
  • Syracuse -- $2.15 (up 2 cents since last week)
  • Watertown -- $2.27 (up 4 cents since last week)

This week, most regions saw a slight increase in gas prices by a few cents, so no dramatic increases to cause shock at the pump.

When compared to last year at this time, the national average price for a gallon of gasoline is 55 cents cheaper, while the New York average price is 63 cents cheaper than a year ago, making road trips an affordable option for motorists.

The Fourth of July holiday is almost here and this year, AAA Western and Central New York summer travel forecast predicts that road trips will the most popular form of travel with families looking to drive to destinations. The low prices will entice motorists to take to the road as more regions and states open.

From GasBuddy:

"Gasoline prices have continued to rise across the United States, a streak that enters its ninth week, but with a resurgence in COVID-19 cases across several states and with Pay with GasBuddy gasoline demand data showing the first weekly drop in gasoline demand since Memorial Day and just the second one since March, there may eventually be a small reckoning in the price of gasoline," said Patrick DeHaan, head of petroleum analysis at GasBuddy.

"Last week, U.S. gasoline demand fell 0.4 percent, not exactly a staggering figure, but data from later in the week pointed to much more noticeable drops, which may be a coming trend as authorities in some U.S. states rescind their reopenings.

Motorists across the country will likely be influenced by what develops in those areas -- improvement and a slowdown in COVID would cause gas prices to continue rising, while a continued resurgence in COVID-19 cases and a drop in gasoline demand will mean lower gas prices."

June 22, 2020 - 10:31am
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, which is 3 cents higher than a week ago. One year ago, the price was $2.66. The New York State average is $2.23 – 1 penny higher than last week. A year ago, the NYS average was $2.85.

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

  • Batavia -- $2.25 (no change since last week)
  • Buffalo -- $2.19 (no change since last week)
  • Ithaca -- $2.13 (up 1 cent since last week)
  • Rochester -- $2.20 (down 1 cent since last week)
  • Rome -- $2.25 (up 1 cent since last week)
  • Syracuse -- $2.13 (up 2 cents since last week)
  • Watertown -- $2.23 (up 1 cent since last week)

Gas prices remain much more affordable than last year making summer road trips more enticing to area families. This year, AAA Western and Central New York expects road trips to be the most popular form of travel with families looking to drive to destinations.

The national average price for a gallon of gasoline is 53 cents cheaper than last year at this time, while the New York average price is 62 cents cheaper than a year ago, making road trips an affordable option for motorists.

From GasBuddy:

"Gasoline demand has continued to recover over the last week, with a 3-percent rise in demand versus last week according to data from Pay with GasBuddy, and that continues to push gasoline prices higher as well, for the eighth straight week," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Americans continue to increasingly get in the car as summer progresses, eager not to miss out on the best months of the year, and our data is clear on that. In turn, the resurgence in gasoline demand is also pushing oil prices to their highest level in months, fueling gas prices to rebound as Americans try to find some sense of normalcy amidst the ongoing COVID-19 situation. For now, its likely that we remain on this path of rising prices, but we won't see gas prices snap back to normal for some time yet."

June 15, 2020 - 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 $2.10, which is 7 cents higher than a week ago. One year ago, the price was $2.70. The New York State average is $2.22 – 2 cents higher than last week. A year ago, the NYS average was $2.87.

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

  • Batavia -- $2.25 (no change since last week)
  • Buffalo -- $2.19 (no change since last week)
  • Ithaca -- $2.12 (up 1 cent since last week)
  • Rochester -- $2.21 (up 1 cent since last week)
  • Rome -- $2.24 (up 3 cents since last week)
  • Syracuse -- $2.11 (up 1 cent since last week)
  • Watertown --$2.22 (up 3 cents since last week)

The national average gas price is on the rise along with demand. According to new data from the Energy Information Administration (EIA), gas demand has continued to increase. If demand continues to trend higher, motorists will likely see pump prices continue to increase through the end of the month.

Oil prices are mixed and domestic crude prices decreased last week amid increased market concern that a second wave of COVID-19 may emerge and could lead to another reduction in crude demand. Domestic crude inventories are up and that also helped push oil prices down.

From GasBuddy:

"As gasoline demand continues on the road to recovery, the national average has advanced for another week, making it seven straight weeks of rising gas prices as the easing coronavirus situation inspires more Americans to hit the road," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Data from Pay with GasBuddy shows U.S. gasoline demand rose 2.4  percent last week to its highest level in over three months, giving renewed confidence that amidst OPEC's crude oil cutbacks, supply will remain in check. I expect the upward trend to continue across most of the country ahead of July 4, with prices perhaps rising another 10-20 cents by then.

"The one thing that could bring restraint to rising gas prices is if we see a significant second wave of COVID-19 cases, but for now, I'm optimistic that won't happen."

June 8, 2020 - 10:14am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.03, which is 5 cents higher than a week ago. One year ago, the price was $2.76. The New York State average is $2.20 – 2 cents higher than last week. A year ago, the NYS average was $2.90.

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

  • Batavia -- $2.25 (up 3 cents since last week)
  • Buffalo -- $2.19 (down 1 cent since last week)
  • Ithaca -- $2.11 (up 1 cent since last week)
  • Rochester -- $2.20 (no change since last week)
  • Rome -- $2.21 (up 3 cents since last week)
  • Syracuse -- $2.10 (up 1 cent since last week)
  • Watertown -- $2.19 (up 1 cent since last week)

The national average price for a gallon of gasoline has topped $2, after spending months below that $2 mark due to inactivity among motorists, low demand and slowed production.

Prices have been slowly rising as states reopen and demand for gasoline increases for both work and recreation purposes. While demand is on the rise, levels are still lower than one year ago.

Expect prices to continue to increase as the summer travel season gets underway. This year, AAA expects road trips to be very popular.

From GasBuddy:

"It's no surprise that gasoline prices have increased for the sixth straight week as gasoline demand has hit its highest level since early March as Americans are returning to the roads," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"With OPEC extending its large oil production cuts until at least July, oil prices continue to rally. In Sunday evening trade, a barrel of WTI crude oil briefly touched $40 per barrel, the highest level in months thanks to rebounding demand for oil and gasoline as well as the previous production cuts.

While I don't see oil's strength holding too long given that oil demand remains 20-25 percent below a year ago, I believe the anxiety pushing oil prices up is coming from the fact that the economy may be recovering quicker than most anticipated. For now, motorists will likely continue to see gas prices rising for the weeks ahead."

June 1, 2020 - 1:27pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s average is $1.98, which is 2 cents higher than a week ago. One year ago, the price was $2.83. The New York State average is $2.18 – same as last week. A year ago, the NYS average was $2.94.

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

  • Batavia -- $2.22 (up 1 cent since last week)*
  • Buffalo -- $2.20 (down 1 cent since last week)
  • Ithaca -- $2.10 (down 2 cents since last week)
  • Rochester -- $2.20 (no change since last week)
  • Rome -- $2.18 (no change since last week)
  • Syracuse -- $2.09 (up 1 cent since last week)
  • Watertown -- $2.18 (no change since last week)

Due to more communities re-opening, the demand for gasoline is increasing, leading to an increase in national, state and local gas prices. As we transition through the reopening phases, and more businesses open across NYS, the demand will grow stronger and will continue to drive up local pump prices. Also, another contributing factor to the higher prices we typically see as the weather warms: summer blend fuel. This more expensive blend of gasoline cost more to produce than winter blend, which also impacts our pump prices during summertime.

*NOTE: The Batavia price reflects an average price for gas stations from throughout the county.

From GasBuddy:

"The pace of increases has begun to throttle back over the last week in most states as gasoline demand's recovery has slowed, keeping prices from matching their rapid pace from just a couple weeks ago.

Prices will continue to move in lockstep with the coronavirus situation, so it remains challenging to know where prices will go in the weeks ahead," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Oil prices saw another weekly rise, closing last week at over $35 per barrel due to a collision between oil production cuts and gasoline demand in the U.S. which has been on the mend, leading oil's rally.

"The recovery in gas prices is likely to continue, though at a slower pace than what we've seen, with $2 per gallon likely coming in the next week or two."

May 27, 2020 - 10:59am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

After dropping to a low of $1.76 in April, the national gas price average is pennies away from hitting the $2/gallon mark. Today’s average is $1.96, which is 8 cents higher than a week ago, 19 cents more than last month, but still a significant 87 cents cheaper than the end of May 2019.

The more expensive pump prices can be attributed to fluctuations in crude and demand.

In the past week, crude oil hit its highest price point – nearly $34 per barrel – since the Administration declared the COVID-19 outbreak a national emergency and many states started implementing stay-at-home restrictions. While demand has been increasing since the end of April, it is down 28 percent compared to the first three weeks of May last year. 

“Americans have seen significantly cheaper-than-normal gas prices the past two months," said Elizabeth Carey, AAA spokesperson. "However, those low prices – as well as crude oil prices – have been inching upward.

"While motorists will see pump prices continue to increase, AAA does not expect the summer average to be as expensive as last year’s season.”

One factor that could cause a sudden spike in gas prices is the Atlantic hurricane season, which is June 1 through Nov. 30.

The National Oceanic and Atmospheric Administration predicts the 2020 season will be above-normal, potentially resulting in 13-19 named storms. An average Atlantic hurricane season typically produces 12 named storms, including three major hurricanes.

Here's a look at today’s average prices:

  • Batavia -- $2.21 (up 1 cent since last week)*
  • Buffalo -- $2.21 (up 2 cents since last week)
  • Ithaca -- $2.12 (down 1 cent since last week)
  • Rochester -- $2.20 (up 1 cent since last week)
  • Rome -- $2.18 (up 6 cents since last week)
  • Syracuse -- $2.08 (up 2 cents since last week)
  • Watertown -- $2.18 (up 4 cents since last week)

From GasBuddy:

"Average gasoline prices across the United States continue to recover as more motorists take back to the roads as states relax previous shelter-in-place orders and begin filling their tanks, driving demand to continue rising," said Patrick DeHaan, head of petroleum analysis at GasBuddy.

"Since demand is a major ingredient in what drives gasoline prices and demand is likely to continue to rebound, it is also pushing the price of both crude oil and gas prices higher.

Unfortunately, thus far, refiners have started to input more crude oil into their refineries, but there has been some lag as refiners remain cautious on flooding the market with unwanted products.

As long as COVID-19 cases continue to drop over time and provinces reopen, I suspect it is only a matter of time before average price hits the $2 per gallon mark again, which could happen as early as this week."

*NOTE: Batavia's price is an average of gas stations throughout the Batavia micropolitan area (aka, Genesee County).

May 19, 2020 - 1:14pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $1.88, up 3 cents since last week. One year ago, the price was $2.85. The New York State average is $2.16 – up 1 cent from last week.

A year ago, the NYS average was $2.96. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.20 (down 1 cent since last week)
  • Buffalo -- $2.19 (down 2 cents since last week)
  • Ithaca -- $2.13 (no change since last week)
  • Rochester -- $2.19 (no change since last week)
  • Rome -- $2.12 (up 1 cent since last week)
  • Syracuse -- $2.06 (no change since last week)
  • Watertown -- $2.14 (up 1 cents since last week)

Gas prices are fluctuating around the country (with the highest prices in the Northeast and on the West Coast) as demand increases amid reopening phases and stocks begin to decrease. Local prices are also mixed this morning. Typically, this week brings some of the highest prices of the year as Memorial Day weekend approaches.

However, this year is anything but typical. One thing is certain, as regions across New York begin to reopen and destinations like campgrounds open for holiday recreation, the need for gasoline will increase. Motorists returning to work will also drive up demand. Expect prices to increase as more motorists hit the roads.

GasBuddy:

"The recovery in gasoline prices has continued across much of the country thanks to recovery in fuel demand as states reopen and motorists get out of the house as temperatures are more conducive to outdoor activity," said Patrick De Haan, head of petroleum analysis for GasBuddy.

"Oil prices continue to follow the gasoline-led recovery, with challenges still seen for portions of the refined oil barrel, including diesel and jet fuel.

"It's been a dramatic turn of events -- a month ago, gasoline was the least wanted portion of the barrel, and refiners acted quickly to respond to gasoline demand that dropped in half, but now as cabin fever hits Americans, gasoline demand has rebounded notably, which has caused oil prices to follow.

Expect the uptick to continue as we approach Memorial Day, but prices will still set multiyear lows for the holiday and may for a good portion of the summer as well, so there should remain optimism with motorists -- summer gas prices will remain quite low compared to previous years."

May 11, 2020 - 10:46am
posted by Howard B. Owens in gas prices, news.

Press release:

Today’s national average price for a gallon of gasoline is $1.85, up 7 cents since last week. One year ago, the price was $2.87. The New York State average is $2.15 – down 1 cent from last week. A year ago, the NYS average was $2.96.

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

  • Batavia -- $2.21 (down 2 cents since last week)
  • Buffalo -- $2.21 (no change since last week)
  • Ithaca -- $2.13 (no change since last week)
  • Rochester -- $2.19 (up 1 cent since last week)
  • Rome -- $2.11 (no change since last week)
  • Syracuse -- $2.06 (no change since last week)
  • Watertown -- $2.12 (down 1 cent since last week)

Increasing demand for gasoline continues to push pump prices up around the country, as more states reopen businesses. Gas demand is expected to continue to grow, leading pump prices to continue to rise. Reports from the Energy Information Administration (EIA) confirm that demand for gasoline has increased, though demand level is still lower than last year at this time.

Oil prices are fluctuating, but have gained some steam, as the market continues to believe that crude demand will increase as more states reopen businesses. However, global crude demand is expected to remain low due to COVID-19, tempering price spikes.

From GasBuddy:

"Gasoline demand continues rebound across the United States as more states reopen, with a week on week rise of nearly 5 percent, according to data from GasBuddy's free payments card. The boost in demand has led oil and gasoline prices to rally, and as long as states continue to loosen restrictions, it'll mean more motorists on the roads and filling their tank," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"Most states saw prices rise last week, but yet again Great Lakes states, which were the largest beneficiaries of ultra-low prices, saw the most pain as retail gasoline prices fall back into their normal territory against the national average. For now, the continued recovery in gas prices will nearly completely depend on improvement in the coronavirus situation, as so long as refineries boost production again as demand continues to rise again."

May 4, 2020 - 11:09am
posted by Howard B. Owens in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $1.78, up 1 cent since last week. One year ago, the price was $2.90. The New York State average is $2.16 – down 2 cents from last week. A year ago, the NYS average was $2.97. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.23 (down 4 cents since last week)
  • Buffalo -- $2.21 (down 2 cents since last week)
  • Ithaca -- $2.13 (down 6 cents since last week)
  • Rochester -- $2.18 (down 2 cents since last week)
  • Rome -- $2.11 (down 2 cents since last week)
  • Syracuse -- $2.06 (down 2 cents since last week)
  • Watertown -- $2.13 (down 2 cents since last week)

After steadily declining because of low gas demand and cheap crude prices due to COVID-19, the national average for a gallon of regular gasoline has increased for the first time in 10 weeks.

Today’s national average is still historically low – at $1.78, which is $1.12 less than a year ago. Data from the Energy Information Administration reveals that domestic gas demand continues to increase, which helped to push up the national average. It grew from 5.31 million b/d (barrels per day) to 5.86 million b/d recently; however, it is still 3.37 million b/d lower than last year’s rate at this same time.

As more states aim to end their stay at home orders and businesses around the country begin to reopen, gas demand is likely to continue increasing and pump prices are likely to slow their decline and possibly increase as well. Local prices continue to drop as they are slower to react to national trends.

From GasBuddy:

"It's becoming a bit clearer that those 99 cent per gallon gas prices from the COVID-19 pandemic are solidly behind us as gasoline demand rebounds across the country as cities and states slowly reopen. The lowest-priced stations in the country will see some upward movement, but most areas will still see declines," said Patrick DeHaan, head of petroleum analysis at GasBuddy.

"While oil may continue to struggle, a disconnect between low oil prices and rising gasoline prices has emerged at the hands of refineries that have slowed production over the past month to avoid flooding the market with unwanted gasoline. As demand stages a rebound, it remains to be seen how quickly refiners will raise production to meet the locations that have or will begin to re-open in the days and weeks ahead.

"For now, expect prices to see upward potential- but only in the lower -- priced states -- as we await a boost in gasoline production."

April 20, 2020 - 1:05pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA: 

Today’s national average price for a gallon of gasoline is $1.81, down 5 cents since last week. One year ago, the price was $2.84. The New York State average is $2.22 – down 3 cents 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 -- $2.27 (down 4 cents since last week)
  • Buffalo -- $2.27 (down 4 cents since last week)
  • Ithaca -- $2.26 (down 1 cent since last week)
  • Rochester -- $2.22 (down 2 cents since last week)
  • Rome -- $2.21 (down 3 cents since last week)
  • Syracuse -- $2.14 (down 5 cents since last week)
  • Watertown -- $2.19 (down 5 cents since last week)

Growing domestic gas supply and lower demand, as Americans practice social distancing, and low crude prices due to COVID-19 continue to push pump prices down. With Americans following stay at home orders and refiners producing excess gasoline, growing gasoline inventories and low demand will continue to push pump prices lower.

Crude oil prices have fallen steadily as the global public health, financial and economic impact of COVID-19 has increased. As a result of COVID-19, the International Energy Agency’s (IEA) monthly report for April 2020 revealed that global oil demand is projected to hit a 25-year low and fall by a record 9.3 million barrels per day this year.

According to IEA, global crude demand for April 2020 is expected to be 29 million barrels per day lower than April 2019 — a level unseen since 1995.

From GasBuddy:

"With another drop in the national average from a week ago, we've made it eight straight weeks of decline, and for the first time in GasBuddy's 20 year history, we have two cities that are averaging under $1 per gallon," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "That's right -- not a single station under $1, but the entire city average. Truly unprecedented demand destruction has been dismantling expensive gas prices everywhere.

"With oil again at new multi-decade lows, we still have room for prices to fall nearly countrywide, though areas with lower prices will see little decline, take Wisconsin for example, while higher priced states like California have the most room to decline. With the wounds to the oil industry growing deeper, it's becoming more likely that even after most Americans return to work, there will be a hangover to the low prices that many motorists will eventually be able to take advantage of."

April 13, 2020 - 9:25am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $1.86, down 7 cents since last week. One year ago, the price was $2.82. The New York State average is $2.25 – down 5 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 -- $2.31 (down 7 cents since last week)
  • Buffalo -- $2.31 (down 2 cents since last week)
  • Ithaca -- $2.27 (down 5 cents since last week)
  • Rochester -- $2.24 (down 3 cents since last week)
  • Rome -- $2.24 (down 5 cents since last week)
  • Syracuse -- $2.19 (down 5 cents since last week)
  • Watertown -- $2.24 (down 5 cents since last week)

Gas prices continue to be unusually low. Two reasons for this dip in prices: COVID-19 – demand is historically low, and the oil price war between Russia and Saudi Arabia drove oil prices down. Oil prices directly impact pump prices.

Some gas stations across the United States are selling gas for less than $1 per gallon – the Native American reservations locally are doing this. Gas prices are higher in NYS due to three main factors: taxes, no refinery in New York State, and delivery challenges.

Typically, at this time of year, refineries would be switching over to summer-blend fuel, which is more expensive to make, and demand would be rising with Easter/spring break travel – but this is a very unique situation given the extremely low demand, no travel, and refineries stalling production.

From GasBuddy:

"As expected, and for the seventh straight week, the national average moved considerably lower, as well as gas prices in every state as retail prices continue to play catch up to the dramatic decline in market prices in recent weeks. And good news for consumers- contrary to popular belief, an OPEC deal over the weekend to cut oil production will actually not have a near-term impact on gasoline prices -- not even one bit," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"Establishing a floor on ultra-low oil prices will hopefully keep U.S. oil production online instead of bankrupting producers. The aim is exactly that -- keep production online -- which will keep prices affordable going forward, instead of ultra-low prices shutting in oil production, leading to a slingshot in gas prices years from now.

"Going back to gas prices, I expect prices to continue moderating for now, as gasoline demand appears to remain near 50-year lows."

Also, the drop in fuel taxes, tolls mean less funding for roads maintenance

April 6, 2020 - 1:14pm
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $1.93, down 7 cents since last week. One year ago, the price was $2.74. The New York State average is $2.30 – down 4 cents from last week. A year ago, the NYS average was $2.76.

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

  • Batavia - $2.38 (down 4 cents since last week)
  • Buffalo - $2.33 (down 4 cents since last week)
  • Ithaca - $2.32 (down 9 cents since last week)
  • Rochester - $2.27 (down 6 cents since last week)
  • Rome - $2.29 (down 5 cents since last week)
  • Syracuse - $2.24 (down 4 cents since last week)
  • Watertown - $2.29 (down 4 cents since last week)

Today, most states have gas price averages under $2 per gallon. New York State prices have dropped; however, the state remains in the top eight highest-priced states across the country.

The image in this link demonstrates gas prices across the United States. Typically, New York prices are higher than the national average and prices are slower to drop compared to most other states.

Pump prices continue to decline around the country as oil prices have decreased significantly in response to the increasing public health, financial and economic impact of COVID-19.

The Energy Information Administration (EIA) released data that shows gas demand has decreased significantly. According to EIA’s historical gas demand data, demand has not been this low since 1993.

As more Americans practice social distancing, gas demand is likely to continue decreasing and push pump prices even lower.

From GasBuddy:

"The national average continues to fall as every state has seen yet another decline in average gas prices over the last week as overall oil demand remains constrained due to COVID-19," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"The decline has been most significant thus far in the Great Lakes, due to the region being landlocked and challenging to ship gasoline out of, prices have been depressed significantly, driving these states to some of the lowest prices in the country. In fact, Wisconsin yesterday saw its lowest state average for gasoline in nearly 6,300 days -- they haven't been lower since 2003.

"For those not in the Great Lakes, there's still good news: average prices will continue to play catch up for the next few weeks or longer. Do keep an eye on this week's potential meeting between major oil producers Russia and Saudi Arabia, however.

On hopes of a production cut, oil rallied nearly $7 per barrel last week, but tomorrow's meeting was postponed. If there is an oil production cut, it may establish a floor to oil prices, but motorists need not worry -- if there is a cut, it is highly unlikely to cause a surge in gas prices, as retail prices have not come close to matching the declines in wholesale prices to this point."

March 30, 2020 - 1:08pm
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, down 13 cents since last week. One year ago, the price was $2.69. The New York State average is $2.34 – down 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 -- $2.42 (down 3 cents since last week)
  • Buffalo -- $2.37 (down 4 cents since last week)
  • Ithaca -- $2.41 (down 7 cents since last week)
  • Rochester -- $2.33 (down 6 cents since last week)
  • Rome -- $2.34 (down 6 cents since last week)
  • Syracuse -- $2.28 (down 6 cents since last week)
  • Watertown -- $2.33 (down6 cents since last week)

Good news: low gas prices! Bad news: consumers don’t benefit! Pump prices continue to decline around the country as oil prices have decreased significantly in response to the increasing public health, financial and economic impact of COVID-19 and the crude price war between Russia and Saudi Arabia.

Normally at this time of year, gas demand is growing and prices are on the rise. New data from the Energy Information Administration reveals that with many Americans staying at home and practicing social distancing, gas demand continues to drop dramatically. Gas prices have not been this low since 2016 and now more than half of the states in the United States have prices below $2. Gas demand is likely to continue decreasing and push gas prices cheaper. 

From GasBuddy:

"Today, we enter the 38th straight day the national average gas price has fallen, and the first week of the national average being under $2/gal for the first time in over four years as motorists park their cars and shelter in place, leading to an unprecedented drop never before seen in U.S. gasoline demand, causing prices to sink like a rock," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"With the nation continuing to be under siege from the coronavirus and millions staying parked at home, there's quite a bit more downside that's in the pipeline coming in the weeks ahead.

"We could easily see the national average fall 50 cents to a dollar per gallon, while pricey states like California will see the biggest drops to come, playing catch up to the drop that has seen 29 states average gas prices fall under $2.

"Motorists should continue to be vigilant if they need to fill their tanks -- bring hand sanitizer and potentially wipes, but also shop around as the gap between station widens to historic levels."

March 23, 2020 - 12:50pm
posted by Howard B. Owens in gas prices, news, covid-19.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.13, down 13 cents since last week. One year ago, the price was $2.62. The New York State average is $2.40 – down 9 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 -- $2.45 (down 3 cents since last week)
  • Buffalo -- $2.41 (down 4 cents since last week)
  • Ithaca -- $2.48 (down 7 cents since last week)
  • Rochester -- $2.39 (down 6 cents since last week)
  • Rome -- $2.40 (down 12 cents since last week)
  • Syracuse -- $2.34 (down 6 cents since last week)
  • Watertown -- $2.39 (down 9 cents since last week)

The national average price for a gallon of gas has dropped 25 cents over the past two weeks. Pump prices continue to decline around the country as oil prices have decreased significantly in response to the increasing public health and economic impact of COVID-19 and the crude price war between Russia and Saudi Arabia.

COVID-19 has forced gas prices down dramatically. Unfortunately, with limited travel and tourism, consumers are not benefiting.

Analysts with Oil Price Information Service (OPIS), which supplies gas price information to AAA, expect prices to continue to drop – possibly to $1.25 - $1.50 nationally by May. Some states are already below the $2 mark.

From GasBuddy:

"Gas prices have spent virtually all of March marching lower, with the drop continuing as the coronavirus destroys oil demand globally, leading to the lowest oil prices we've seen in 18 years, paving the way for still an additional 35-75 cent per gallon drop at most stations in the weeks ahead," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"I don't think I've ever seen such a collapse in prices, even including the Great Recession. What we're witnessing is easily going to go down as the great collapse in oil demand, and for motorists hurrying to fill up today, they're wasting their money as prices will continue to drop in the days ahead.

"Gas stations are passing along the drop several weeks behind, and there's plenty more room for prices to drop, putting 99 cents per gallon prices as a strong possibility for perhaps many more stations than we previously anticipated. This is truly an unprecedented turn of events."

March 9, 2020 - 1:37pm
posted by Howard B. Owens in gas prices, news.

Press release:

Today’s national average price for a gallon of gasoline is $2.38, down 6 cents since last week. One year ago, the price was $2.47. The New York State average is $2.56 – down 3 cents from last week.

A year ago, the NYS average was $2.59. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.55 (down 4 cents since last week)
  • Buffalo -- $2.51 (down 2 cents since last week)
  • Ithaca -- $2.59 (down 3 cents since last week)
  • Rochester -- $2.52 (down 4 cents since last week)
  • Rome -- $2.60 (down 1 cent since last week)
  • Syracuse -- $2.47 (down 4 cents since last week)
  • Watertown -- $2.55 (down 3 cents since last week)

The national average for a gallon of regular unleaded gasoline has decreased by 6 cents to $2.38. A healthy stock level and cheaper crude prices continue to push pump prices down.

The trend of pump prices facing downward pressure is likely to continue through the end of the winter driving season, especially amid concerns about the coronavirus causing the price of crude to decline.

However, the current refinery maintenance season could put pressure on regional refinery utilization, supply and gas prices during the run-up to the spring driving season. Once refineries switch over to summer blend fuel, prices will start to increase since that formula is more expensive to produce.

From GasBuddy:

"It's been an unprecedented week, one in which oil majors Russia and Saudi Arabia saw anything but eye to eye on lowering oil production, leading crude oil prices to plummet 20 percent in Sunday evening trade, combined with COVID-19 fears escalating, and gas prices have nowhere to go but down and like a rock," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"Oil has now seen its value cut nearly in half after Iran tensions inflamed prices months ago and it doesn't immediately look like it will get any better. For motorists, I urge them to be in absolutely no hurry to fill up as gas prices will drop in nearly every nook and cranny of the country, from the smallest cities to the largest metros, at a time of year that prices are usually rising, we'll see anything but that. The national average came into March like a lamb and will likely be leaving like a lion, with prices roaring lower."

March 2, 2020 - 11:58am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.44, down 3 cents since last week. One year ago, the price was $2.43. The New York State average is $2.59 – down 2 cents from last week. A year ago, the NYS average was $2.53.

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

  • Batavia -- $2.59 (no change since last week)
  • Buffalo -- $2.53 (down 1 cent since last week)
  • Ithaca -- $2.62 (no change since last week)
  • Rochester -- $2.56 (up 1 cent since last week)
  • Rome -- $2.61 (down 1 cent since last week)
  • Syracuse -- $2.51 (up 3 cents since last week)
  • Watertown -- $2.58 (down 3 cents since last week)

Data from the Energy Information Administration shows that total domestic gasoline supplies remain high – and the level is much higher than one year ago. That has helped to push pump prices lower across the country as crude oil remains cheap.

Oil prices plummeted at the end of February as coronavirus shut down factories in China, which is the largest importer of oil. The drop in demand pushed oil prices down though some varieties (WTI & Brent Crude) have begun to inch up this morning.

The global drop in demand is likely to continue through the end of the winter driving season. However, refinery maintenance, which is just beginning now, could impact prices in the month of March.

From GasBuddy:

"As the spread of the coronavirus induces panic on markets, oil prices have been walloped and motorists should avoid filling up as the plummet in oil prices starts showing up at their local gas station in the days ahead," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"Nearly every village, town and city in every state will see gas prices dropping -- the pace may vary, of course -- but over the next week gas prices will move lower solidly, barring any dramatic improvement in the spread of the virus.

The drop in oil is little comfort to those who've been watching the stock market fall, but gas stations have plenty of room to drop prices, in some cases nearly 25-35 cent drops over the next few weeks will happen.

My advice for motorists is delay buying gasoline and expect noticeable drops for the time being as the world obsesses over the spread of COVID-19."

February 24, 2020 - 5:52pm
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 3 cents since last week. One year ago, the price was $2.39. The New York State average is $2.61 – no change from last week. A year ago, the NYS average was $2.52. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.59. (down 1 cent since last week)
  • Buffalo -- $2.54 (down 2 cents since last week)
  • Ithaca -- $2.62 (down 1 cent since last week)
  • Rochester -- $2.55 (down 2 cents since last week)
  • Rome -- $2.62 (no change since last week)
  • Syracuse -- $2.48 (no change since last week)
  • Watertown -- $2.61 (no change since last week)

The national average price for regular unleaded gasoline is $2.47 per gallon, which is 3 cents more than last week, 6 cents less than a month ago, and 8 cents more than a year ago.

With many people traveling for midwinter break, demand increased over the past week, which contributed to the spike in national gas prices.

Total national gasoline stocks also decreased last week, so that drop in supply also sent prices up nationally.

Demand will likely fluctuate in coming weeks with spring break travel and peak at Easter week.

February 10, 2020 - 10:52am
posted by Howard B. Owens in gas prices, news.

Press release from AAA:

Today’s national average price for a gallon of gasoline is $2.43, down 4 cents since last week. One year ago, the price was $2.28. The New York State average is $2.63 – down 3 cents from last week. A year ago, the NYS average was $2.47. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia -- $2.62 (down 1 cent since last week)
  • Buffalo -- $2.57 (down 1cent since last week)
  • Ithaca -- $2.64 (down 2 cents since last week)
  • Rochester -- $2.59 (down 3 cents since last week)
  • Rome -- $2.63 (down 1 cent since last week)
  • Syracuse -- $2.50 (down 4 cents since last week)
  • Watertown -- $2.64 (down 3 cents since last week)

The national average price for regular unleaded gasoline is $2.43 per gallon, which is 4 cents less than last week, 16 cents less than a month ago, and 16 cents more than a year ago. Data from the Energy Information Administration (EIA) shows that a high level of gasoline stocks and low demand continue to put downward pressure on pump prices across the country.

From GasBuddy:

"The nation's gas prices continue to fall to fresh lows as coronavirus fears continue to put a choke hold on oil prices, leading to the fourth straight weekly decline in the national average," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "All but a handful of states saw their averages decline over the last seven days, leading to plenty of smiling faces, but especially in the 21 states where at least one station is offering gasoline under $2 per gallon.

"It's impressive that in those 21 states, a total of over 10,000 stations are offering such low prices. With continued worries of economic slowdown due to the spread of coronavirus, I don't think the impact to oil is done yet, and for now, motorists are poised to see another week of falling gas prices."

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