New York Gas Prices Could Rise Over $4; Here’s the New Reason Why
Just when we thought things were going in the right direction, they could soon take a turn for the worst.
Gas prices are no laughing matter in New York State. No matter what you drive every day, we all feel the pain at the pump when it’s time to stop. According to recent reports, we may have even more to complain about before we know it.
Aaron Savage, Townsquare Media
Aaron Savage, Raising Media Prices at Townsquare
As of today, the average price of gas in New York State stands at $3.48/gallon. This is now up 6 cents from last month and down 81 cents from last year. Not surprisingly, the trend is picking up for the spring season, but it’s great to see the big drop from 2022.
The national average remains around the same mark at $3.51/gallon, though it was up 7 cents just a week ago. This mark is down 68 cents from last year.
Seeing the big drop is good, but new information tells us we could soon be back to paying over $4/gallon by this summer.
joshuaraineyphotography
joshuaraineyphotography Great price prediction
The first two factors, similar to what we saw last year, relate to the strong demand for gasoline and the increase in the price of oil at this time of the year. AAA spokesman Andrew Gross says these factors will cause our current increase during the spring.
Oil prices finally peaked and are now above $70 per barrel after several weeks of hovering just below it.
The new information comes from the Organization of the Petroleum Exporting Countries (OPEC), who say they are cutting their oil production by more than 1 million barrels a day. This could significantly increase prices in the coming months.
Fuel pump payment kiosk
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AAA expects gas prices to rise between 10 and 15 cents ahead of the summer driving season. Experts at Fox Business News say the average price could reach $4/gallon by summer. Although it is up from what we are seeing now, our current price is still much lower than what we saw in 2022.
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The grand prize is a $1,000 REI gift card, a 4-person tent, a 2023 Empire pass, and a $250 NY Camping gift card. The six category winners each receive a $250 REI gift card, an Empire Pass 2023 and a $100 NY camping gift card.
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