The average price of regular gasoline in Lockport is two cents cheaper this week at $2.957 per gallon, according to AAA East Central’s weekly Gas Price Report.
On the week, state gas prices average are three to eight cents cheaper in the Mid-Atlantic and Northeast region with prices ranging from $2.88 in Connecticut to $2.28 in Delaware. Statewide, gas prices are four cents cheaper across the Empire State – which is good news for the 3 million New Yorkers that AAA projects will drive 50 miles or more away from home this Thanksgiving Holiday.
Gasoline stocks built by 270,000 barrels to remain relatively stable at 64 million, according to the Energy Information Administration (EIA). Meanwhile, refinery utilization in the region stayed consistent at 90 percent. Utilization has been slowly, but surely increasing since the beginning of October as refineries wrap up seasonal maintenance.
This week’s average price for Lockport $2.957
Average price during the week of November 12, 2018 $2.976
Average price during the week of November 20, 2017 $2.618
On the National Front
Motorists nationwide can add cheaper gas prices to their list of ‘things for which to be thankful’ this Thanksgiving holiday. Today’s national gas price average is $2.62, which is seven-cents less than a week ago and the largest one-week decline in pump price this year. In fact, the large drop brings the year-over-year differential in gas prices to only seven cents – that is the lowest yearly change seen July 2017. The decrease in gasoline is welcomed news for the nearly 49 million Americans that AAA projects are hitting the road for Thanksgiving, some starting as early as today.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate was unchanged and settled at $56.46. Oil prices mostly dropped last week as EIA reported that crude inventories continue to build, now for the eighth consecutive week. Total domestic inventories sit at 442.1 million barrels, which is 16.9 million lower than levels at this time last year. Inventories grew as the EIA reported the U.S. hit a new record for crude production last week. At 11.7 million b/d, it is the highest rate on record since the EIA began tracking it in 1983.
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