Gas prices across New York State continue to ease slightly. AAA reports the state average is now $3.16 per gallon, down a penny from last week and well below last year’s average of $3.54. By comparison, the national average remains unchanged at $3.14, down from $3.41 a year ago.
Diesel costs are down slightly. Diesel prices this morning are down two cents to $3.69 compared to last week. The New York average is $3.90, down one cent from last week
According to AAA, no news is good news for drivers as gas prices stayed on track this past week, with the national average returning to $3.14 after a few dips. The summer of lower pump prices continues, as the busy driving season nears its end. As we enter peak hurricane season, storms affecting gas production and distribution are something to keep an eye on. But right now, with crude oil prices remaining steady, there’s no indication gas prices will make any drastic moves.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.04 million b/d last week to 9 million. Total domestic gasoline supply decreased from 227.1 million barrels to 226.3. Gasoline production increased last week, averaging 9.8 million barrels per day. This morning, oil prices remain in the low to mid $60s per barrel. Analysts are keeping a close eye on potential hurricane activity that could impact gas prices if a storm hits a refinery.
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