Lockport gasoline averages fell by three cents this week to $2.333 per gallon, according to AAA East Central’s weekly Gas Price Report.
Gas prices have declined in every Mid-Atlantic and Northeast state, on average by three cents on the week, and in-line with the national trend. However, the price drop is an outlier given that the region made the country’s largest gasoline inventory draw on the week. The draw indicates a surge in demand, which if continues could drive gas prices upward ahead of the Independence Day weekend (albeit, by pennies).
This week’s average price for Lockport $2.333
Average price during the week of June 19, 2017 $2.367
Average price during the week of June 27, 2016 $2.389
On the National Front
Despite a surge in gasoline demand on the week, the national average price for gasoline is nearing an all-time low for the year at $2.26/gallon. On the week, gas prices fell in all but three states, and the national average has fallen for 24 consecutive days. Today’s national average is three cents cheaper than a week ago and eleven cents cheaper than a month ago. Heading into Independence Day weekend, gasoline is four cents less than a year ago.
Record refinery rates and high gasoline and crude inventory are among the contributing factors causing the downward price trend. Refinery production has easily met demand from drivers and has left gasoline stockpiles at high levels. This is good news for people planning to travel for the Independence Day holiday. AAA forecasts 37.5 million Americans will drive to their holiday destination, which potentially can mean a small increase in holiday weekend gas prices. But in light of the gasoline surplus, the increase may amount to pennies at most.
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