Gas prices in New York are down slightly this week. AAA says the state average is now $3.17 a gallon—down a penny from last Monday and well below the $3.61 average this time last year. The national average is holding steady at $3.14, compared to $3.51 a year ago.
Diesel costs have fluctuated recently. Diesel prices this morning are up a cent to $3.73 compared to last week. The New York average is $3.92, no change from last week
Summer road trippers continue to enjoy cheaper gas prices at the pump compared to one year ago. Today’s national average for a gallon of regular gas stands at $3.14, some 37 cents lower than last July. The summer of lower gas prices continues thanks to crude oil prices averaging around $65 per barrel. With no disruption in the global delivery of oil, the main ingredient in the production of gasoline, and relative calm as it relates to storms in the tropics that could impact refineries and fuel delivery, gas prices are holding steady in the heat of summer.
The Energy Information Administration reports gasoline demand increased from 8.48 million barrels per day last week to 8.96. Total domestic gasoline supply dipped slightly from 232.9 million barrels to 231.1. Gasoline production increased last week, averaging 9.4 million barrels per day.
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