Gas prices jump 18 cents in past week in New York

By Tom Rivers, Editor Posted 22 April 2024 at 8:28 am

Gas prices jumped an average of 18 cents for regular unleaded gas in New York State in the past week, going from $3.51 to $3.69.

In the past two weeks, the average price is up 22 cents in the state, AAA reported today.

The average price in Orleans County increased 14 cents in the past two weeks from $3.42 to $3.56 a gallon.

AAA issued this statement: “Gas prices have risen significantly over the past few weeks as regions return to the more expensive summer blend of fuel and tensions overseas led to the recent rise of oil prices. We are closely monitoring geopolitical issues that could impact the oil markets. This week, the cost of crude oil has since fallen back down to the mid-$80s per barrel as the oil market watches for any further military actions.

“According to new data from the Energy Information Administration (EIA), gas demand rose slightly last week while total domestic stocks decreased slightly. Higher demand and a rise in oil prices could push pump prices higher. It is not unusual to see a lull in gasoline demand this time of year, between the end of spring breaks and ahead of the Memorial Day holiday. The national average for gas may continue to waffle with small increases, some flat days, and even some price dips over the next few weeks.

“Diesel prices remain relatively steady. The national average price for diesel is $4.03, down one cent from last Monday. The New York average is $4.40, up one cent from a week ago.”

Here are the average prices today in Western New York counties: