No relief at the pump: Gas prices continue to rise, along with oil prices

By AAA of Western and Central New York

Today’s national average price for a gallon of gasoline is $2.77, up 5 cents from last week. One year ago, the price was $2.39. The New York average is $2.83 – up 5 cents from last week. A year ago, the state average was $2.57.

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

• Batavia – $2.76 (up 4 cents since last week)
• Buffalo – $2.77 (up 5 cents since last week)
• Ithaca – $2.80 (up 3 cents since last week)
• Rochester – $2.81 (up 5 cents since last week)
• Rome – $2.84 (up 4 cents since last week)
• Syracuse – $2.80 (up 5 cents since last week)
• Watertown – $2.86 (up 6 cents since last week)

Rising crude prices, tightening gas supplies, and increased gas demand have contributed to drivers seeing higher prices at the pump. According to the latest data from the Energy Information Administration (EIA), total domestic gas stocks decreased as demand is on the rise. If these trends continue alongside higher crude prices, drivers can expect incremental price increases – of at least nickel – at their local gas stations in March. At the same time, motorists have yet to see any relief from gas price spikes following outages at Gulf Coast refineries.

Crude prices continue to push closer to $70 per barrel – they were in negative territory, under $0 per barrel, in April 2020. Last week, crude prices increased after the Organization of the Petroleum Exporting Countries (OPEC) decided with its allies, including Russia, to maintain existing crude production cuts through April. Additionally, Saudi Arabia – a member of OPEC – agreed to extend its voluntary production cut. Rising oil prices have a direct impact on pump prices.

Motorists can benefit from comparing pump prices before filling up with the AAA mobile app – a convenient option to find the lowest gas prices in a given area. Plus, the app is the quickest way to request roadside assistance. Learn more at www.AAA.com/Mobile.

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell locations across the country. Learn more here. Motorists can always 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 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.