Gas prices hit $3 dollars in New York State

Posted at 12:20 PM, May 14, 2018
and last updated 2018-05-14 12:20:24-04

Average gas prices have officially hit $3 in New York State, and it's the most New Yorkers have paid for a gallon of gas since 2014.

In New York alone, prices are up five cents a gallon from last week and ten cents more than this time last year. Average prices in New York are higher than the national average, which is $2.87 this week.

AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $2.89 (up 3 cents in past week)
  • Buffalo - $2.90 (up 3 cents in past week)
  • Ithaca - $2.95 (up 4 cents in past week)
  • Rochester - $2.93 (up 5 cents in past week)
  • Rome - $2.99 (up five cents in past week)
  • Syracuse - $2.97 (up five cents in past week)
  • Watertown - $3.00 (up 3 cents in past week)

Gas prices increased this week after the Energy Information Administration reported demand had jumped from 9.1 million barrels to 9.8 million barrels during the week ending on May 4. On the supply side, we're actually seeing fewer total gas stocks which is also putting upward pressure on prices.

Also, prices tend to increase as gas stations across the summer switch to the more expensive summer bled of gasoline. All gas stations are federally required to make that switch by June 1.

Experts expect prices to continue to increase as we approach Memorial Day weekend.

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