Gas Prices Continue to Drop
Gas Prices Continue to Drop
Today’s national average price for regular unleaded gasoline is $2.49 per gallon, down six cents since last week. One year ago, the price was $2.26. The New York State average is $2.70, down four cents in the last week. A year ago, the NYS average was $2.36.
AAA Western and Central New York (AAA Western and Central New York) reports the following averages:
- Buffalo - $2.70 (down 2 cents in past week)
- Rochester - $2.64 (down 5 cents in past week)
- Rome - $2.67 (down 3 cents in past week)
- Syracuse - $2.53 (down 7 cents in past week)
Gulf Coast refineries are building toward resuming normal operations, but it could take some longer than others to return to pre-hurricane production rates. The Energy Information Administration (EIA) reports that Gulf Coast utilization rates are up nearly 12 percent to 85 percent of capacity since last week. As utilization rates increase and operations improve, gas prices will drop.
On the supply front, total gasoline output is strong. According to the latest EIA report, output registered at 9.679 million b/d, an increase of 139,000 b/d. For the market, this could be a sign that oil demand is holding strong -- especially after Hurricanes Harvey and Irma caused disruptions to energy delivery systems in the U.S. – and can be an indicator that global inventories will continue declining (because of steady demand). However, overall fall gasoline demand may not be enough to drain high U.S. oil inventories.
Motorists can 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/.
AAA Western and Central New York members can receive discounts at NOCO gas stations, as well as Fastrac locations. Learn more here. You can find the lowest prices in your area at http://aaa.opisnet.com/index.aspx.
As Upstate New York’s largest member services organization, AAA provides nearly 860,000 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 or download our mobile app at www.AAA.com/mobile.