What It Costs to Fill The Tank

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

Slowing demand amid stable stock levels keep prices steady

Today’s national average price for a gallon of gasoline is $2.64, down a penny since last week.

One year ago, the price was $2.89.

The New York State average is $2.70 – down two cents from last week.

A year ago, the NYS average was $3.00.

AAA Western and Central New York reports the following averages:

• Batavia – $2.68 (down one cent since last week)

• Buffalo – $2.67 (down one cent since last week)

• Ithaca – $2.66 (down one cent since last week)

• Rochester – $2.69 (down two cents since last week)

• Rome – $2.70 (down one cent since last week)

• Syracuse – $2.58 (down three cents since last week)

• Watertown – $2.66 (down two cents since last week)

At the close of Friday’s formal trading session on the NYMEX, WTI increased by $1.15 to settle at $54.70.

Crude prices increased after more tensions in the Middle East that could lead to a disruption in global crude supply.

Crude prices also increased based on reports that OPEC and its partners could deepen production cuts next year in an effort to reduce supply, which would lead to higher oil prices.

This was not reflected in pump prices, which are down slightly over the past week.