Monday’s national average price for a gallon of gasoline is $3.67, no change since last Monday. One year ago, the price was $4.12. The New York State average is $3.69, up 7 cents since last Monday. A year ago, the NYS average was $4.23.
While gas prices have stabilized nationally, AAA reports they continue to rise in New York where the average price for a gallon regular is up 23 cents in the last month. Gas prices are higher across the Northeast, the last region in the country to finish transitioning from the less expensive winter blend of fuel to the more expensive summer blend. While we are paying more at the pump on average, signs are pointing to a slowdown. The cost of crude oil is falling. Monday morning, the price per barrel ranged from $77 to $81. In addition, new data from the Energy Information Administration (EIA) shows demand for gas is falling while supply is up slightly as more U.S. refineries return to service from extensive winter/spring maintenance.
Diesel prices dipped slightly. The national average price for a gallon of diesel is $4.17, down 3 cents from a week ago. Here in New York, the current average for diesel is $4.80, down 2 cents from last week.
