New York drivers are paying slightly more at the pump heading into the busy Memorial Day travel period, according to the latest report from AAA Western and Central New York.
The statewide average price for a gallon of regular gasoline rose 2 cents over the past week to $4.61 per gallon. That’s significantly higher than the $3.13 average recorded at this time last year.
Nationally, the average price remained unchanged from last Monday at $4.52 per gallon, though that is also sharply above the $3.18 national average from a year ago.
Among regional markets across western and central New York, Watertown recorded the highest average gas price this week at $4.63 per gallon, while Elmira posted the lowest at $4.53. Rochester drivers are now paying an average of $4.59 per gallon, up 2 cents from last week.
AAA says gas prices are hovering near levels seen during the record-setting price spikes of 2022. With Memorial Day travel expected to reach record levels, motorists are facing the highest holiday gas prices in four years.
Oil prices have also climbed over the past week, trading between $106 and $111 per barrel Monday morning compared to a range of $97 to $104 one week ago.
According to the latest figures from the U.S. Energy Information Administration, gasoline demand dipped slightly last week from 8.81 million barrels per day to 8.75 million. Domestic gasoline supplies also declined, falling from 219.8 million barrels to 215.7 million barrels, while gasoline production increased to an average of 9.8 million barrels per day.
Diesel prices in New York also moved higher this week. The statewide average for diesel fuel rose 1 cent to $5.94 per gallon. A year ago, diesel averaged $3.89 statewide. The national diesel average stands at $5.63 per gallon, down a penny from last week but well above the $3.55 average recorded one year ago.
