What’s Driving Up Gas Prices In New York

Just when you thought the summer driving season was over and gas prices might finally drop, pumps in the Northeast and Central New York are creeping higher. What’s behind it? A mix of strong demand, tighter supply, and a slowdown in gasoline production.

Drivers have been filling up more than usual, with demand hitting 9.1 million barrels a day last week — about 2 percent higher than the same time last year.

Over the past month, demand has been the highest since early July. All that extra driving has started to take a toll on fuel inventories.

7 Weeks of Declining Supplies

Gasoline stocks dropped nearly 4 million barrels recently, marking seven weeks in a row of declining supplies. Add in higher exports, fewer imports, and a dip in production, and it’s no surprise prices are feeling the squeeze.

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“People hoping for a price drop might have to wait,” said Patti Artessa from AAA Northeast. “Gas prices could go up and down over the next few weeks as supply, demand, and refinery maintenance shake things up.”

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New York Gas Prices

In New York, the average price per gallon is $3.26, with Utica matching that. Nationally, gas is holding steady around $3.19 per gallon, thanks in part to easing supply disruptions in Indiana.

Prices vary widely across the country. Mississippi and Oklahoma are enjoying the cheapest gas at around $2.71, while California and Hawaii remain the priciest at $4.62 and $4.46 per gallon.

Bottom line: if you’re driving around Central New York in the coming weeks, budget a little extra for fuel. Until refineries finish seasonal maintenance and switch to winter-blend gasoline, pumps aren’t likely to get much cheaper.