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AAA: Average price for gas drops slightly

Gas
Posted at 4:32 AM, Jun 20, 2022
and last updated 2022-06-20 04:39:01-04

BUFFALO, N.Y. (WKBW) — Those costly fill ups at the pump are not going anywhere soon in WNY. While gas prices are down slightly, the drop is doing little for your wallet.

Monday’s national average price for a gallon of gasoline is $4.98, down three cents from last week.

One year ago, the price was $3.07.

The New York State average is staying steady at $5.01 (5.008), down three cents since June 13.

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

  • Batavia - $4.89 (down 3 cents from 6/13)
  • Watertown - $4.98 (up 2 cents from 6/13)
  • Buffalo - $4.89 (down 1 cent from 6/13)
  • Elmira - $4.97 (down 1 cent from 6/13)
  • Ithaca - $4.98 (up 1 cent from 6/13)
  • Rochester - $4.97 (down 1 cent from 6/13)
  • Rome - $4.98 (no change from 6/13)
  • Syracuse - $4.96 (down 1 cent from 6/13)
  • Watertown - $4.98 (up 2 cents from 6/13)

According to the latest data from the Energy Information Administration, total domestic gasoline stocks decreased while gasoline demand declined slightly, limiting pump price increases.
Crude oil prices dropped last week amid broad market concern regarding the potential for slower economic growth after the Federal Reserve raised the interest rate by 0.75 percent.

Slower than expected economic growth could cause crude demand to decline, leading to lower oil prices.

Oil prices sit at $109 to $113 per barrel. However, as crude prices remain volatile, the price per gallon for gasoline will likely remain elevated.

Tips to save money at the pump:

  • Slow down and drive the speed limit
  • Avoid prolonged idling
  • Travel outside high-traffic times of the day
  • Minimize your use of air conditioning
  • Make sure tire pressure is at the vehicle’s recommended level
  • Remove unnecessary and bulky items from the car

Data provided by AAA WCNY