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Gas prices increase significantly; diesel prices hit new record highs


Mon, May 9th 2022 10:45 am

By AAA of Western and Central New York

Today’s national average price for a gallon of gasoline is $4.33, up 14 cents from last week. One year ago, the price was $2.96. The New York state average is $4.52, up 17 cents from last week. A year ago, the NYS average was $3.

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

√ Batavia – $4.34 (up 10 cents from last week)

√ Buffalo – $4.35 (up 12 cents from last week)

√ Elmira – $4.47 (up 18 cents from last week)

√ Ithaca – $4.46 (up 18 cents from last week)

√ Rochester – $4.43 (up 12 cents from last week)

√ Rome – $4.48 (up 16 cents from last week)

√ Syracuse – $4.43 (up 14 cents from last week)

√ Watertown – $4.46 (up 15 cents from last week)

Gas prices jumped significantly in the past week. According to the latest data from the Energy Information Administration, total domestic gasoline stocks decreased while gasoline demand increased slightly. Increasing gas demand and rising oil prices have pushed pump prices higher.

This morning, oil prices are about $110 per barrel and up. Crude prices rose after the European Union announced a proposal to ban Russian oil imports within six months, while refined product imports would be prohibited by the end of 2022. Countries such as Slovakia have stated they will seek exemptions because they need more time to find alternatives to Russian oil. However, given that global crude supply remains tight, crude prices will likely remain volatile amid the news that supply could get tighter if the ban is implemented.

Meanwhile, the national average for diesel fuel hit a new record today, reaching $5.54. One year ago, the price was $3.11. In New York, the average price for diesel is $6.38, which is also a record high. One year ago, the price was $3.19.

High diesel fuel prices impact businesses that need to transport goods and those that have commercial vehicles – like AAA. Nearly all of AAA Western and Central New York’s tow trucks rely on diesel fuel.

“To say we’re feeling pain at the pump is an understatement,” said Steve Steinmetz, director of automotive service operations at AAA Western and Central New York. “Prices have literally doubled since last year impacting all towing companies across the state.”

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.

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell. 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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