The New York State average price for a gallon of gasoline is $3.10, down one cent from last Monday. One year ago, the New York State average was $3.43. The national average price is $3.13, up five cents from last Monday.
According to AAA of Western and Central New York, for drivers who use diesel fuel, the average price is $3.94, down one cent from last Monday.
After weeks of little movement, the national average for a gallon of gas increased by about 4 cents since last week to $3.12. Even though the price of crude oil remains below $70 a barrel, prices at the pump are going up as more refineries make the seasonal switch to summer-blend gasoline. Summer-blend gas is less likely to evaporate in warmer temperatures and is more expensive to produce.
According to the latest data from the Energy Information Administration (EIA), gasoline demand decreased from 9.18 b/d last week to 8.81. Total domestic gasoline supply decreased from 241.1 million barrels to 240.6. Gasoline production increased last week, averaging 9.6 million barrels per day. Crude oil prices have increased slightly, ranging from $68 to 72 per barrel this morning.
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