Concerns over Russia/Ukraine tensions push oil prices up
Submitted by AAA of Western and Central New York
Monday’s national average price for a gallon of gasoline is $3.37, up 4 cents from last week. One year ago, the price was $2.42. The New York state average is $3.55, up 5 cents from last week. A year ago, the NYS average was $2.51.
AAA Western and Central New York (AAA WCNY) reports the following averages:
According to the Energy Information Administration (EIA), gasoline demand is in a typical range for the winter driving season, equivalent to mid-January 2020. Continued growth in the price of crude oil has helped to keep pump prices elevated. If crude prices continue to climb, pump prices will likely follow suit. This morning, oil prices are in the high $80s to low $90s per barrel. Tension between Russia and Ukraine pushed crude prices up last week. Amid tight global supply, there are market concerns that a looming invasion could contribute to a volatile market, pushing prices higher.
To conserve fuel, motorists should map routes, avoid peak traffic times like rush hour, and combine errands into one trip while using cruise control when possible. Drivers should also make sure tire pressure is at the vehicle’s recommended level for the best gas mileage while removing any unnecessary and bulky items from the car since it takes more fuel to accelerate a heavy vehicle.
Motorists can benefit from comparing pump prices before filling up with the AAA mobile app for iPhone, iPad and Android – a convenient option to find the lowest gas prices in a given area. Plus, the app is the quickest way to request roadside assistance, map a route, find discounts, or book a hotel.
AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell locations across the country. Learn more here. AAA members can save on gas by joining the Fuel Rewards at Shell program. Join now at AAA.com/Shell.
Motorists can also locate gas prices across the country and stay up-to-date on the latest news and fuel-saving tips 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.