The New York State average for a gallon of gasoline on Monday is $3.18, no change from last Monday. That’s according to figures released by AAA of Western and Central New York. One year ago, the New York average was $3.62. The national average price for a gallon is $3.14, down one cent from one week ago.
Diesel prices on Monday morning are up a cent to $3.72 compared to last week. The New York average is $3.92, no change from last week.
In the thick of summer, gas prices are holding low with the national average for a gallon of regular going down one cent from a week ago to $3.14. Pump prices are matching the summer of 2021, the last time seasonal gas prices were this low. Meanwhile, a low-pressure system off the Gulf Coast has the potential – albeit low – to strengthen into a tropical storm or hurricane, and it’s something to watch as it moves westward. This time of year, tropical activity can have an effect on gas prices if there’s damage to refineries or if local flooding affects gasoline distribution or demand. The Energy Information Administration reports gasoline demand decreased from 9.15 million b/d last week to 8.48. Total domestic gasoline supply increased from 229.5 million barrels to 232.9. Gasoline production decreased last week, averaging 9.1 million barrels per day. Diesel costs have fluctuated recently.
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