Drivers are seeing little change at the pump this week, as gas prices across the region remain mostly steady heading into late winter travel.
According to AAA Western and Central New York, the national average price for a gallon of regular gasoline is $2.94, up one cent from last Monday and down from $3.15 at this time last year.
New York’s statewide average also ticked up a penny to $3.00 per gallon. A year ago, drivers were paying $3.17.
Most local markets saw no change over the past week. Batavia averaged $3.03, Buffalo $3.07, Elmira $2.79, Ithaca $3.11, Rochester $3.06, Rome $3.11, and Watertown $3.03. Syracuse was the only area to post a slight increase, rising one cent to $2.97.
Despite increased travel demand around Presidents’ Day and February break, prices have held relatively steady. AAA says current prices are the lowest for this time of year since 2021, offering some relief for drivers.
Data from the U.S. Energy Information Administration shows gasoline demand climbed last week from 8.30 million barrels per day to 8.74 million, while total domestic supply fell from 259.1 million barrels to 255.8 million. Gasoline production also increased, averaging 9.4 million barrels per day.
Oil prices are currently trading in the mid-$60s to low-$70s per barrel, a range that analysts say should help keep gas prices relatively stable. However, officials note that geopolitical tensions, including strained relations between the United States and Iran, could push crude prices higher in the weeks ahead. The EIA also reports U.S. crude oil inventories remain about 5% below the five-year average for this time of year.
