Gas prices stabilizing after quick spike

Middle East tensions pushed prices up

By AAA of Western and Central New York

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 3 cents from last week. A year ago, the state average was $2.99.

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

• Batavia - $2.71 (up 2 cents since last week)
• Buffalo - $2.72 (up 3 cents since last week)
• Ithaca - $2.69 (up 8 cents since last week)
• Rochester - $2.75 (up 6 cents since last week)
• Rome - $2.74 (up 2 cents since last week)
• Syracuse - $2.65 (up 7 cents since last week)
• Watertown - $2.74 (up 6 cents since last week)

Gasoline demand is down according to new data from the Energy Information Administration (EIA). 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 pump prices are likely stabilizing, and they may continue to do so this week.

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell locations across the country. Learn more here. One can find the lowest prices in the area at http://aaa.opisnet.com/index.aspx. Motorists can find current gas prices along their route with the free AAA mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel, and access AAA roadside assistance. Locate gas prices across the country at http://gasprices.aaa.com.

As upstate New York’s largest member services organization, AAA Western and Central New York provides more than 880,000 members with travel, insurance, financial and automotive-related services. Since its founding in 1902, AAA has been a leading advocate for the safety and security of all travelers. Visit AAA at www.AAA.com.