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Monday, January 08, 2018

Gas prices steady in Buffalo, up in Rochester

All WNY News     Monday, January 08, 2018    

STAFF REPORTS



The price of gasoline remains steady nationwide from a week ago across the state at $2.49 per gallon.

Likewise, in Buffalo, the price of a gallon remains the same as last week at $2.62. In Rochester, however, the price is up five cents to $2.61. The New York State average is also up three cents from a week ago to $2.67.

For the past week, the national average has held steady at its current price, reflecting a leveling out in the market after a busy holiday travel season. The flat price follows the Energy Information Administration’s (EIA) latest weekly petroleum report showing a drop in demand. Although the number fell by a significant amount, the demand figure was still nearly 200,000 b/d (barrels per day) higher than last year’s number at the same time, which contributed to the higher prices drivers paid at the pump during the 2017 holiday season. With lower demand, gasoline stocks around the country grew by 4.8 million barrels last week.

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