Actions

Average gas prices are 30 cents more than last year

Posted: 1:20 PM, Apr 16, 2018
Updated: 2018-04-16 17:20:10Z

Be prepared to pay more at the pump, AAA Western and Central New York reported Monday that the national gas price jumped five cents in a week with similar trends here in New York State.

AAA reports the national average price for a gallon of gasoline is $2.71, compared to $2.41 this time last year. The New York State average is $2.82 this week, up six cents from last week and 30 cents more than this time last year.

Here's a breakdown by city:

* Batavia - $2.73 (up 4 cents in past week)

* Buffalo - $2.75 (up 4 cents in past week)

* Rochester - $2.76 (up 5 cents in past week)

* Syracuse - $2.78 (up 6 cents in past week)

AAA says high demand for gas and higher oil prices than last year are driving up prices. 

Oil prices edged higher last week following new concerns about tension in the Middle East, with military strikes against Syria. Although Syria is not a major oil producer, AAA says tension in the country could ripple to other countries in the region and restrict global oil supply flows.

Meanwhile, the Energy Information Agency is reporting that crude oil production in the lower 48 states broke more records last week, topping 10 million barrels per day for the first time in recorded history. That production was able to contribute 3.3 million barrels to the domestic crude oil supply.

Even though we're seeing record crude oil production, crude stocks around the country still sit nearly 105 million barrels less than crude storage levels at this time last year. Growing crude exports, alongside OPEC-led production cuts, have helped stocks decrease over the past year, but the year-over-year decline in stocks has contributed to higher crude prices.

Take WKBW Everywhere, on all your devices.  Download below!

Phone or Tablet: Apple, Android
Set-top Device: Roku , Apple TV , Amazon Fire TV
Amazon Alexa

Personalize your news, get the latest 7 First Alert Forecast, and watch 7 Eyewitness News video wherever, whenever.

Learn more here about what 7 Eyewitness News provides on all these devices.