AAA Gas Prices Report August 16, 2021: Gas Demand Softens As Students Return To School In Many Areas, Prices Expected To remain Over $3 Per Gallon

CENTRAL NEW YORK – Today’s national average price for a gallon of gasoline is $3.19, no change in the past week. One year ago, the price was $2.18. The New York State average is $3.22 – up one cent from last week. A year ago, the NYS average was $2.25.

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

• Batavia – $3.24 (up three cents since last week)
• Buffalo – $3.15 (no change since last week)
• Ithaca – $3.19 (down one cent since last week)
• Rochester – $3.20 (no change since last week)
• Rome – $3.27 (up one cent since last week)
• Syracuse – $3.19 (no change since last week)
• Watertown – $3.22 (down one cent since last week)

Summer gasoline demand is beginning to slow down. In a recent report, the Energy Information Administration (EIA) reported that gas demand dropped slightly, signaling that summer gas demand is likely softening as the school year starts in many parts of the country, in addition to COVID concerns. Additionally, total domestic gas stocks declined. The drop in demand has helped to minimize pump price increases.

Crude prices have declined slightly due to market concerns that crude demand may not rebound this year as anticipated due to surging coronavirus infection rates across the globe. However, crude prices remain close to $70 per barrel, so AAA expects the national average to remain above $3 per gallon throughout the summer. Locally demand will likely remain high as Labor Day travel kicks in and students return to school later than in other parts of the country.

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