No relief at the pump as oil prices continue to rise

Mon January 17, 2022 9:20 AM

Stable prices despite a drop in demand

By AAA of Western and Central New York

Today’s national average price for a gallon of gasoline is $3.31, up 1 cent from last week. A year ago, the price was $2.39. The New York State average is $3.48, no change 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 – $3.44 (up 2 cents from last week)
  • Buffalo – $3.44 (down 1 cent from last week)
  • Ithaca – $3.49 (no change from last week)
  • Rochester – $3.49 (no change from last week)
  • Rome – $3.52 (no change from last week)
  • Syracuse – $3.46 (no change from last week)
  • Watertown – $3.50 (no change from last week)

After holding steady for most of last week, the national average for a gallon of regular gasoline rose 1 cent to $3.31. According to the latest data from the Energy Information Administration (EIA), total national gasoline inventories have increased while gasoline demand has declined. Winter weather and the omicron variant of COVID-19 are likely culprits for this drop in demand. Typically, pump prices decline amid falling gas demand and rising total inventories, but continued crude oil price growth has helped drive pump prices higher. Crude prices are back to around $80 a barrel. As crude prices continue to climb, prices at the pump will likely follow.

To save fuel, motorists should map routes, avoid peak and rush hour traffic, and combine errands into a single trip while using cruise control where possible. Drivers should also ensure that tire pressure is at the level recommended by the vehicle for the best gas mileage while removing all unnecessary and bulky items from the car, as it takes more fuel to accelerate a heavy vehicle .

Motorists can benefit from comparing prices at the pump before refueling with the AAA mobile app for iPhone, iPad and Android – a convenient option for finding the lowest gas prices in a given area. Plus, the app is the fastest way to request roadside assistance, plan a route, find discounts, or book a hotel.

AAA members enjoy discounts at gas stations such as Fastrac, Maple Leaf Market and Shell across the country. Learn more here. AAA members can save on gas by joining the Fuel Rewards program at Shell. Register now at AAA.com/Shell.

Motorists can also locate gas prices across the country and stay up to date with the latest news and fuel saving tips at http://gasprices.aaa.com.

As the largest member services organization in Upstate New York, AAA Western and Central New York provides more than 887,000 members with travel, insurance, financial, and automotive-related services. Since its founding in 1900, AAA has been a leading advocate for the safety and security of all travelers. Visit AAA at www.AAA.com.


Source link

Felix J. Dixon