What It Costs to Fill The Tank

What It Costs to Fill The Tank

A look at the latest gas prices in the region (provided by AAA):

Gas Prices Stabilizing After Quick Spike

Today’s national average price for a gallon of gasoline is $2.67, up 11 cents since last week.

One year ago, the price was $2.85.

The New York State average is $2.75 – up three cents from last week.

A year ago, the NYS average was $2.99.

AAA Western and Central New York reports the following averages:

• Batavia – $2.71 (up two cents since last week)

• Buffalo – $2.72 (up three cents since last week)

• Ithaca – $2.69 (up eight cents since last week)

• Rochester – $2.75 (up six cents since last week)

• Rome – $2.74 (up two cents since last week)

• Syracuse – $2.65 (up seven cents since last week)

• Watertown – $2.74 (up six cents since last week)

Gasoline demand is down according to new data from the Energy Information Administration.

Additionally, total domestic reserves are on the rise.

Typically, these market shifts would push pump prices down, but increased oil prices – a result of attacks on oil facilities in Saudi Arabia last weekend – pushed pump prices up last week.

The national average has held steady for several days, while state and some local prices have dropped in recent days after a quick spike last week, signaling that pump prices are likely stabilizing, and they may continue to do so this week.