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High oil prices and tight supply lead to higher gas prices


Mon, May 2nd 2022 09:45 am

By AAA of Western and Central New York

Today’s national average price for a gallon of gasoline is $4.19, up 7 cents from last week. One year ago, the price was $2.90. The New York state average is $4.35, up 12 cents from last week. A year ago, the NYS average was $2.95.

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

  • Batavia – $4.24 (up 3 cents from last week)
  • Buffalo – $4.23 (up 2 cents from last week)
  • Elmira – $4.29 (up 8 cents from last week)
  • Ithaca – $4.28 (up 7 cents from last week)
  • Rochester – $4.31 (up 3 cents from last week)
  • Rome – $4.32 (up 7 cents from last week)
  • Syracuse – $4.29 (up 5 cents from last week)
  • Watertown – $4.31 (up 6 cents from last week)

Gas prices are up across the board this week despite a slight drop in demand. Although lower gas demand would typically push pump prices lower, increasing oil prices and tight gasoline supply have pushed pump prices higher. Pump prices will likely face upward pressure as oil prices remain above $100 per barrel.

Crude prices have increased because the current level is approximately 16% lower than at the end of April 2021. As supply remains tight and the market remains highly volatile, crude prices will likely continue to fluctuate, pushing pump 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. Get more tips here: https://gasprices.aaa.com/news/fuel-saving-tips/.

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.

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 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.

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