The average price for a gallon of gasoline in New York State is down one penny from Memorial Day. On Monday, AAA of Western and Central New York reported the average price for a gallon in the Empire State is $3.12. The national average cost for a gallon is $3.14, down three cents from Memorial Day.
For drivers who use diesel fuel, the national average price for diesel is $3.51, down one cent from last Monday. The New York average is $3.87, on par with last week
With crude oil prices lingering in the low $60s per barrel, drivers are reaping the benefits at the pump. The national average is down about three cents from last week. While fuel prices are expected to remain on the lower side compared to last summer, weather is the wild card. The Atlantic hurricane season began Sunday, and NOAA predicts a 60 percent chance of an above-normal season. Storms along the Gulf Coast can affect oil refineries and disrupt fuel deliveries, leading to a temporary increase in gas prices.
According to the latest data from the Energy Information Administration (EIA), gasoline demand increased over the holiday weekend while total domestic gasoline supply increased as well. Gasoline production is also on the rise, averaging 9.8 million barrels per day.
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