Lockport gasoline averages fell by a penny this week to average at $2.320 per gallon, according to AAA East Central’s weekly Gas Price Report.
For a consecutive week, gasoline prices declined in 14 Mid-Atlantic and Northeast states on average by two cents on the week. Compared to one month ago, gas prices are on average 12 cents cheaper in the region. Gasoline stockpiles were on an upward swing on the week, rising by 600,000 barrels. This was the only region in the country to see stocks increase, which contributed to the gasoline prices drop.
This week’s average price for Lockport: $2.320
Average price during the week of June 26, 2017: $2.333
Average price during the week of July 5, 2016: $2.363
On the National Front
At $2.23, today’s average national gas price is the cheapest the country has seen all year. On the week, gas prices fell in 46 states. Only Illinois, Oklahoma and Washington, D.C. saw prices increase, albeit by one cent each. South Carolina continues to carry the cheapest gas in the country at $1.90. Today, consumers can find gas for $2.00 or less at one out of every four gas stations in the country.
The last time gas prices were this cheap for the Independence Day holiday was 2005. That year, the price on July 4 was $2.23, which was the first time gas prices ever rose above the $2.00 mark for the holiday. Today’s price is three cents less than a week ago, 15 cents less than a month ago and four cents less than this day a year ago.
After making gains toward the end of the week, West Texas Intermediate continues to float above $46 per barrel on Monday morning. The market has been steadily climbing after EIA data showed that domestic oil production lowered for the week ending on June 23. Moreover, last week Baker Hughes, Inc. reported that for the first time in 24 weeks, the U.S. lost two oil rigs. However, the U.S. oil rig count is still up by 415 when compared to the count last year at this time. This significant number of rigs means that the market still has a long way to go before decreased production in the U.S. has a major impact on the price per barrel of crude. In the meantime, drivers will continue to benefit from high crude production rates that have contributed to record refinery output rates this year.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
AAA East Central is a not-for-profit association with 81 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. Past news releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.
For More Information, Contact:
Jim Garrity, Public & Community Relations Manager
Desk: 412-365-7274 / Cell: 412-905-9021 / Email: Garrity.James@aaaec.com