The average price of regular gasoline in Lockport dropped by a fraction of a cent this week to an average of $2.706 per gallon, according to AAA East Central’s weekly Gas Price Report.
On the week, gas prices in the region slightly increased.
Nearly half (12) of the 25 states in the country selling gas for $2.60 or more are Mid-Atlantic and Northeast states, with New York ($2.76) being amongst the region’s most expensive.
Jumping 1 million barrels, gasoline inventories are at 57.4 million barrels, according to the latest EIA (Energy Information Administration) data. Despite carrying the third highest inventory of all the regions, the Mid-Atlantic and Northeast totals are 8.5 million barrels behind this time last year.
This week’s average price for Lockport $2.706
Average price during the week of April 2, 2018 $2.711
Average price during the week of April 10, 2017 $2.445
On the National Front
Gas prices have held at their highest price of the year – $2.66 – for one week. And motorists are seeing fluctuating prices at the pump from state to state with jumps as high as 12-cents in Utah and declines as much as 7-cents in Michigan since last Monday.
According to the EIA’s latest weekly report, gasoline inventories dropped by 1.1 million barrels. Additionally, demand for gasoline remains robust at 9.2 million barrels per day and is more in line with demand levels at the same time in 2017.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased $1.48 to settle at $62.06.
Additionally, Baker Hughes, Inc. reported that the U.S. gained 11 active oil rigs last week, raising the total number to 808.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 80 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. 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