Monday’s New York State average for a gallon of gasoline is $3.45, up two cents from one week ago. One year ago, the state average was $3.47. According to AAA of Western and Central New York, the national average price is $3.54, up one cent from last Monday.
Diesel prices remain relatively steady. The national average price for diesel is $4.02, down two cents from last Monday. The New York average is $4.40, no change from a week ago.
After an early spring surge, the national average for a gallon of gasoline spent last week drifted up and down by a fraction of a cent before settling on $3.54. But this break may be temporary, as gas pump prices will likely resume their typical spring increase. Uncertainty about the impact of Ukraine’s targeting of Russia’s oil infrastructure likely spiked oil prices recently, but those concerns have already abated somewhat for now. Gas prices are settling back into a pattern similar to last year when the usual seasonal increase was slow and steady.
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. Nationally, gas demand dipped slightly last week as domestic supply increased. Lower demand would typically contribute to pushing pump prices lower or slowing increases, but rising oil prices have kept them elevated instead.
