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Gas prices remain steady

STAFF REPORTS


Today’s national average price for a gallon of gasoline is $2.86, which is up two cents from last week. One year ago, the price was $2.31. The New York State average is $3.00, which is the same as last week. A year ago, the NYS average was $2.45. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $2.96 (no change since last week)
  • Buffalo - $3.00 (no change since last week)
  • Ithaca - $2.91 (no change since last week)
  • Rochester - $2.94 (no change since last week)
  • Rome - $2.96 (down 1 cent since last week)
  • Syracuse - $2.89 (down 1 cent since last week)
  • Watertown - $3.05 (no change since last week)

The national average price for regular unleaded gasoline is $2.86 per gallon, which is two cents more than last week, one cent more than a month ago, and 55 cents more than last year. Gas prices have held steady in the past week, signaling that supply and demand are in sync. If supply and demand continue to hold steady, pump prices are likely to remain flat this week.

Analysts are continuing to keep an eye on the global supply restraints due to U.S.-imposed sanctions on Iran’s oil exports and ongoing economic troubles in Venezuela, which could send crude production prices higher. But, for now, prices have stabilized, as predicted by AAA. This is welcome news to summer travelers who are taking mid-summer road trips.