The average price for a gallon of unleaded gasoline is up again in New York. According to AAA, the state average is $3.90, up eight cents from one week ago. Nationally, the average is $3.83 per gallon, up seven cents from last Monday.
AAA reports gas prices continue to bump up, but the rate of increase has slowed in recent days, and relief could be on the way. The national average is up 7 cents since last week primarily due to the price of oil, which remains in the low to mid-80s per barrel. However, two factors are cooling the summer surge. According to the latest data from the Energy Information Administration (EIA), gas demand decreased over the last week while total domestic supplies increased as refinery operations are returning to normal after last month’s extreme heat in certain parts of the country led to lower output. Monday’s national average of $3.83 is 29 cents more than a month ago, but 24 cents less than a year ago.
