Gas prices up 4 more cents in past week in NY; Orleans highest in WNY

By Tom Rivers, Editor Posted 7 February 2022 at 12:48 pm

The average price for a gallon of gas is up another 4 cents in the past week in New York State, and now has increased 9 cents in the past two weeks, AAA Western and Central New York reported today.

Today’s national average price for a gallon of gasoline is $3.44, which is up 7 cents in the past week. One year ago, the price was $2.46, AAA said.

The New York State average is $3.59, up four cents from last week. A year ago, the NYS average was $2.56.

In Western New York, the price is highest in Orleans County at $3.612 a gallon. The average price per gallon in other WNY counties includes: Niagara, $3.469; Genesee, $3.522; Wyoming, $3.582; Erie, $3.547; Chautauqua, $3.528; Cattaraugus, $3.511; Allegany, $3.558; Livingston, $3.595; and Monroe, $3.581.

AAA released the following press release:

“According to the Energy Information Administration (EIA), total domestic gasoline stocks have grown, while gasoline demand has dropped recently. An increase in total stocks and a decrease in demand typically puts downward pressure on pump prices, but rising crude prices continue to push prices higher instead. If crude prices continue to climb, pump prices will likely follow suit.

“Crude prices are now topping $90 per barrel. The tension between Russia and Ukraine continues to contribute to rising oil prices. Russia is a member of OPEC+, and any sanctions based on their actions toward Ukraine may cause it to withhold crude oil from the global market.

“Moreover, OPEC+ announced this week it will stick to its plan to increase crude production by 400,000 barrels per day next month despite calls for a greater increase to help meet demand. Additionally, EIA reported that total domestic crude stocks decreased, contributing to pressure on domestic crude prices.”