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Gas prices fall across region

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Mon, Jun 3rd 2019 02:30 pm

Boost in gasoline stocks is helping to keep prices down

By AAA of Western and Central New York

Monday’s national average price for a gallon of gasoline is $2.81, down 2 cents from last week. One year ago, the price was $2.95. The New York state average is $2.93 – down 2 cents from last week. A year ago, the state average was $3.09. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia – $2.84 (down 2 cents since last week)
  • Buffalo –$2.88 (down 1 cent since last week)
  • Ithaca – $2.86 (down 1 cent since last week)
  • Rochester – $2.87 (down 1 cent since last week)
  • Rome – $2.87 (down 1 cent since last week)
  • Syracuse – $2.84 (down 1 cent since last week)
  • Watertown – $2.93 (down 3 cents since last week)

Leading up to a busy Memorial Day weekend, refineries across the country boosted their crude utilization rate to 91.2% – a significant increase to a spring season that has seen utilization in the 86-88% range, mostly due to unexpected and planned maintenance. The higher rate helped boost gasoline stocks last week, according to the Energy Information Administration’s (EIA) weekly petroleum status report. Increased gasoline production and higher stock levels can help to suppress pump prices amid robust gas demand.

With summer road trips poised to drive higher gas demand rates, increased gasoline stocks will play an important role in helping to keep pump prices in most states under the $3/gallon mark during the busy driving season.

Gas prices have declined, on average, by at least a nickel, for the majority of the country since the beginning of May – and that’s a trend motorists can expect to continue into early June. Stable crude oil prices are also helping to push prices down at the pump. A bump in demand could push prices higher, but hopefully only by a few cents. To keep gas prices decreasing and/or stable, stocks will need to continue to build.

AAA members receive discounts at NOCO gas stations, as well as Fastrac locations and at 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.

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