What It Costs to Fill The Tank

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

As Memorial Day nears, increases will make another appearance

Today’s national average price for a gallon of gasoline is $2.86, down four cents from last week.

One year ago, the price was $2.87.

The New York State average is $2.96 – down one cent from last week.

A year ago, the NYS average was $3.00.

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

• Batavia – $2.83 (down one cent since last week)

• Buffalo – $2.88 (down one cent since last week)

• Ithaca – $2.89 (down one cent since last week)

• Rochester – $2.89 (down one cent since last week)

• Rome – $2.90 (down one cent since last week)

• Syracuse – $2.87 (down two cents since last week)

• Watertown – $2.96 (no change since last week)

During this time of year, switching to the more expensive summer blend gasoline, ongoing refinery maintenance, and healthy consumer demand all contribute to pump prices increasing.

A decrease, even by one or two cents is unusual.

Motorists should expect an upswing in prices as we get closer to Memorial Day.

As far as crude oil goes, at the close of Friday’s formal trading session on the NYMEX, WTI decreased four cents to settle at $61.66.

On the week, crude prices have moved lower because of global concerns around trade negotiations between the U.S. and China.

If total crude stocks continue to tighten, American motorists will likely see pump prices continue to increase this spring – alongside the global price of crude, as tightening supply amid robust global crude demand will increase the price per barrel of oil.

AAA members receive discounts at NOCO gas stations, as well as Fastrac locations and at Shell locations across the country.