Gas prices down 34 cents on average in NYS from a year ago

Staff Reports Posted 11 January 2021 at 8:35 am

The average price for gas in New York State is $2.39 a gallon today, which is down 34 cents from a year ago, AAA Western and Central New York is reporting today.

Today’s national average price for a gallon of gasoline is $2.32, up 6 cents from last week. One year ago, the price was $2.59.

AAA Western and Central New York reports the following averages:

  • Batavia – $2.31 (up 4 cents since last week)
  • Buffalo – $2.33 (up 7 cents since last week)
  • Rochester – $2.36 (up 6 cents since last week)

Pump prices are on the rise despite gas demand falling to the lowest level recorded since the end of May 2020, AAA said.

Domestic crude prices climbed above $50 per barrel while total refinery utilization increased from 79 percent to 81 percent leading to higher pump prices. If crude prices continue to stay above $50 per barrel alongside higher refinery utilization rates, drivers could see pump prices continue to climb, which is unusual given that low winter gas demand typically pushes prices to their lowest point of the year, AAA said.

Crude prices increased last week after Saudi Arabia announced that it would cut its crude production by 1 million barrels per day in February and March after OPEC met with its partners, including Russia and Kazakhstan, to discuss their ongoing production reduction agreement. If total domestic crude supply continues to drop, crude prices could continue to increase and push pump prices higher, AAA said.