Lockport Gas Prices Increase Slightly; National Average Continues to Climb

Lockport New York, Gas Prices
Old gas pump by Andrew Taylor
Photo by Andrew Taylor https://www.flickr.com/photos/profilerehab/ https://creativecommons.org/licenses/by/4.0/

After dropping by a penny last week, the average price of regular gasoline in Lockport is about a penny more expensive this week at $2.486 per gallon, according to AAA East Central’s weekly Gas Price Report.

State averages in the Mid-Atlantic and Northeast states are mostly more expensive on the week, with pump prices ranging from as expensive as $2.61 in Pennsylvania to as cheap as $2.18 in Tennessee.  Statewide, New York’s average price for gasoline is five cents more expensive this week at $2.52. 

For a second week, the region saw a substantial drop in inventories.  According to the Energy Information Administration (EIA), regional inventory decreased by nearly 2 million barrels to 67.5 million, the lowest level since early January.  In addition, refinery utilization dropped from 69.7 to 64 percent as refineries in Delaware, Philadelphia, and New Jersey went offline to undergo maintenance. 

This week’s average price for Lockport                                               $2.486
Average price during the week of February 19, 2019                          $2.477
Average price during the week of February 26, 2018                          $2.695

On the National Front
Motorists can fill up for $2.50 or less at most gas stations throughout the country, despite more than 40 states seeing gas price averages increase on the week.  At $2.39, the national gas price average is eight cents more expensive than last week and 12 cents more expensive than last month, yet remains 12 cents cheaper year-over-year. 

Nationwide, refineries have been undergoing maintenance, partly unplanned as the result of poor weather, and partly to prepare to produce spring and summer gasoline.  Even with pump prices on the rise, mostly decreasing demand has helped to offset major increases, keeping gas under $2.50 for most of the country.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased 30 cents to settle at $57.26 – setting a new high for crude prices this year.  If crude prices sustain at these higher levels, they could potentially send pump prices higher this spring.

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

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