Gas Price on the Rise

From GasBuddy

New York, NY, May 23- Average retail gasoline prices in New York have risen 4.2 cents per gallon in the past week, averaging $2.41/g Monday, according to GasBuddy’s daily survey of 6,118 gas outlets in New York. This compares with the national average that has increased 6.1 cents per gallon in the last week to $2.28/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in New York during the past week, prices yesterday were 44.0 cents per gallon lower than the same day one year ago and are 13.4 cents per gallon higher than a month ago. The national average has increased 15.1 cents per gallon during the last month and stands 46.1 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on May 23 in New York have ranged widely over the last five years:
$2.85/g in 2015, $3.87/g in 2014, $3.75/g in 2013, $3.92/g in 2012 and $4.08/g in 2011.

In areas of upstate New York and in Pennsylvania the current gas price averages:
Syracuse- $2.34/g, up 2.3 cents per gallon from last week’s $2.32/g.
Rochester- $2.37/g, up 2.4 cents per gallon from last week’s $2.35/g.
Scranton- $2.43/g, up 4.0 cents per gallon from last week’s $2.39/g.

“With crude oil prices rallying over the past six weeks, reaching the highest point that we’ve seen since November ($48.50/ bbl.) before Friday’s close, we should expect wholesale and retail gasoline prices to rise further,” says Gregg Laskoski, senior petroleum analyst for GasBuddy.

“The good news for consumers is that even with the recent increases in the price at the pump, on average we’re still paying about 45 cents less per gallon this year versus last.”