Gas prices are on the rise again. According to AAA of Western and Central New York, the New York State average on Monday is $3.43 a gallon, up six cents from last Monday. This week’s average mirrors the statewide average one year ago this week.
Nationally, the price also went up six cents to $3.53 a gallon.
AAA reports that while domestic gas demand has been lackluster, rising oil prices helped to push pump prices higher. Gas prices are a lot like seasonal temperatures, rising with the arrival of spring. The demand for gasoline increasing during spring break also pushes pump prices higher. Administration (EIA) reveals gas demand increased slightly over the last week, following the end of spring break for many schools, while domestic supply has fallen. Lower demand would typically contribute to pushing prices lower or slowing increases, but rising oil prices have pushed pump prices higher instead.
The upward trend in gas prices is not unusual this time of year. Another critical factor is the arrival of more expensive summer blend gas, which tends to increase pump prices by 10 to 15 cents. That transition is underway in some parts of the country.
Diesel prices remain relatively steady. The national average price for diesel is $4.04, up one cent from last Monday. The New York average is $4.40, also up one cent from a week ago.
