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Oil prices shoot up: High oil prices may stall any relief at the pump


Tue, May 31st 2022 01:55 pm

By AAA of Western and Central New York

Today’s national average price for a gallon of gasoline is $4.62, up 2 cents from last Tuesday. One year ago, the price was $3.05. The New York state average is $4.93, no change since last week. A year ago, the NYS average was $3.08.

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

Batavia – $4.83 (down 1 cent from last Tuesday)

Buffalo – $4.83 (no change since last Tuesday)

Elmira – $4.87 (up 2 cents from last Tuesday)

Ithaca – $4.87 (up 1 cent from last Tuesday)

Rochester – $4.89 (up 1 cent from last Tuesday)

Rome – $4.89 (up 2 cents from last Tuesday)

Syracuse – $4.86 (no change since last Tuesday)

Watertown – $4.90 (up 1 cent from last Tuesday)

With Memorial Day in the review mirror, motorists are hoping for some relief at the pump. That will depend on oil prices, demand, and geopolitical factors. In a typical year, pump prices peak around Memorial Day and taper off over the summer, though summer prices are almost always more expensive than winter prices due to increased demand and summer blend fuel that is more expensive to produce.

This morning, oil prices are over $118 per barrel, which is a significant increase over last week. If oil prices remain elevated, motorists will likely continue to feel pain at the pump.

Meanwhile, the national average for diesel fuel is at $5.52. One year ago, the price was $3.19. In New York, the average price for diesel is $6.45. One year ago, the price was $3.23.

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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