After dropping to a low of $1.76 in April, the national gas price average is pennies away from hitting the $2 per gallon mark — and the price is much higher in some parts of the country, including the Northeast.
Today’s national average is $1.96, which is eight cents higher than a week ago, 19 cents more than last month, but still a significant 87 cents cheaper than the end of May 2019.
The more expensive pump prices can be attributed to fluctuations in crude and demand, according to industry experts. In the past week, crude oil hit its highest price point – nearly $34 per barrel – since the Administration declared the COVID-19 outbreak a national emergency and many states started implementing stay-at-home restrictions. While demand has been increasing since the end of April, it is down 28% compared to the first three weeks of May last year.
“Americans have seen significantly cheaper-than-normal gas prices the past two months. However, those low prices – as well as crude oil prices – have been inching upward,” said Elizabeth Carey, AAA spokesperson. “While motorists will see pump prices continue to increase, AAA does not expect the summer average to be as expensive as last year’s season.”
One factor that could cause a sudden spike in gas prices is the Atlantic hurricane season, which is June 1 through November 30. The National Oceanic and Atmospheric Administration predicts the 2020 season will be above-normal, potentially resulting in 13-19 named storms. An average Atlantic hurricane season typically produces 12 named storms and 3 major hurricanes.
Here’s a look at today’s average prices in New York:
Batavia — $2.21 (up 1 cent since last week)
Buffalo — $2.21 (up 2 cents since last week)
Ithaca — $2.12 (down 1 cent since last week)
Rochester — $2.20 (up 1 cent since last week)
Rome — $2.18 (up 6 cents since last week)
Syracuse — $2.08 (up 2 cents since last week)
Watertown — $2.18 (up 4 cents since last week).
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May 28, 2020 at 03:00AM
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Gas prices, like the temperature, on the rise, say industry experts - Rome Sentinel
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