The average price of regular gasoline in Lockport is on repeat, holding at $2.989 per gallon, according to AAA East Central’s weekly Gas Price Report.
Gas prices are mostly flat across the Mid-Atlantic and Northeast region with eight states seeing two to one cent pump price drops while seven states’ gas price averages held flat on the week, including NY.
Pump prices and inventories remained relatively flat at 64 million oil barrels on the week, according to the latest Energy Information Administration’s (EIA) data available. Total inventory levels are on par with levels this time last year. If they tighten, prices would likely increase.
This week’s average price for Lockport - $2.989
Average price during the week of August 6, 2018 - $2.989
Average price during the week of August 14, 2017 - $2.762
On the National Front
The national gas price average has held relatively flat for the last two weeks. Today’s national average is $2.86. EIA latest reports detail a drop in consumer gasoline demand and a build in gasoline inventories. In fact, this was the first increase in inventories in six-weeks with a substantial addition of 3 million oil barrel.
On the week, states are seeing pump price jumps as high as eight cents and drops as much as a dime. Today’s gas price average is one-cent less than last week, three-cents less than one month ago and 51-cents more than this time last year.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased 82 cents to settle at $67.63.
In related news, according to Baker Hughes, Inc., the U.S. added 10 oil rigs last week, bringing the total to 869. Currently, there are 101 more active rigs this year than last year at this time.
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