The New York State average for a gallon of gasoline on Monday is down a penny from $3.10 on May 5th. One year ago, the New York State average was $3.72.
According to AAA, the national average price for a gallon of gasoline is $3.14, down three cents from last Monday. One year ago, the price was $3.62
In the lull between spring travel and the kick-off to summer, gas demand slid week over week, dropping the national average three cents to land at $3.14. OPEC+ (the group of oil-producing countries) announced last week that it will increase output again in June, widening the supply surplus, which could cause crude prices to continue to fall. This means road trippers would see lower prices at the pump this summer. The national average is nearly 49 cents less than it was one year ago today.
According to the latest data from the Energy Information Administration (EIA), gasoline demand decreased from 9.09 million b/d last week to 8.71. Total domestic gasoline supply slightly increased from 225.5 million barrels to 225.7. Gasoline production decreased last week, averaging 9.7 million barrels per day. Crude oil prices have decreased, ranging from $62 to $66 per barrel this morning.
For drivers who use diesel fuel, the national average price for diesel is $3.51, down two cents from last Monday. The New York average is $3.88, also down two cents from last Monday.
Have all the Finger Lakes news from Finger Lakes News Radio delivered to your email every morning for FREE! Sign up by clicking here
