The average price of regular gasoline in Lockport is up again this week, this time by a nickel to an average of $2.615 per gallon according to AAA East Central’s weekly Gas Price Report.
After a substantial build the week prior, this week the Mid-Atlantic and Northeast region had a nearly 500,000 barrel drop in gasoline inventory. The 53 million barrels in total is typical for this time of year. While gas prices are as much as five cents more expensive on the week in the Mid-Atlantic and Northeast region, they are 17-25 cents more than a year ago (New York, +17 cents).
This week’s average price for Lockport: $2.615
Average price during the week of January 16, 2018: $2.565
Average price during the week of January 23, 2017: $2.463
On the National Front
Today’s national gas price average is $2.54, which is only one cent more than last week. The EIA reports that while gasoline demand modestly decreased, inventory increased by 3.6 million barrels. Combined, these two factors resulted in minimal impact on the national average this week. On the week, gas prices increased in 41 states with Florida seeing the largest jump at the pump with a nine-cent increase.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate dropped 58 cents to settle at $63.37. Oil prices slid after EIA’s latest petroleum report underscored that domestic crude production in the U.S. continues to grow. On the week, U.S. production increased by 258,000 b/d to 9.750 million b/d.
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. 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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