Gas prices are up again slightly in New York at the start of the work week. According to AAA of Western and Central New York, the New York State average is $3.16, up two cents from last Monday. One year ago, the average gasoline price was $3.27. The national average price is up to $3.13, an increase of six cents over the last seven days.
According to AAA, Oil costs hovering around $80 a barrel have helped push the national average for a gallon of gasoline six cents higher since last week to $3.13. Domestic gasoline demand is low, but global oil prices have surged due to strong winter heating fuel demand and new U.S. sanctions against Russia’s energy sector. Oil costs account for 56% of what motorists pay at the pump, so the more expensive oil leads to more expensive pump prices.
According to the latest data from the Energy Information Administration (EIA), gasoline demand fell last week while total domestic rose, meanwhile gasoline production popped last week, averaging 9.3 million barrels daily. This morning, oil prices range from $78 to $83 per barrel.
For drivers who use diesel fuel, the national average price for diesel is $3.63, up eight cents from last Monday. The New York average is $3.92, up three cents from last Monday.
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