Monday’s national average price for a gallon of gasoline is $3.57, three cents higher than last Monday. One year ago, the price was $4.53. The New York State average is $3.67, down one cent from a week ago. A year ago, the state average was $4.71.
According to AAA, gas demand has fallen since the Independence Day holiday weekend as motorists have returned to their day-to-day driving routines. Typically, this would lower gas prices, however, such a move is being countered by the increasing cost of oil, the main ingredient in gasoline. The price for crude oil has moved from the upper $60s per barrel recently to the upper $70s. If crude oil prices continue to rise, pump prices will likely follow suit.
Monday morning, the national average price for diesel is $3.84, down from $5.54 a year ago. The New York average for diesel is $4.37, compared to $5.96 one year ago.