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Gas prices jumped just three cents in the past week, leading to a national average of $2.96 per gallon, with the average price in this area well over $3 per gallon. The jump comes weeks after President Donald Trump decision to withdraw the United States from the Iran nuclear deal.
The average price per gallon is up 60 cents from a year ago and 15 cents from a month ago. The tristate area is still one of the most expensive places to buy gas in the country, with an average of $3.10 in New York and $3.15 in Connecticut.
According to an AAA New York spokesman, the price has been affected by multiple factors, including the price of crude oil overseas and an increase in demand nationwide. It also comes at a time when refineries begin the process of transitioning from a winter blend of gasoline to a more eco-friendly, expensive, summer blend during the busiest driving season of the year.
AAA noted that while gas prices remain high, with three states topping the average of $3 per gallon, things did not significantly increase over the holiday.
“At the start of the holiday weekend, reports indicated that OPEC may raise production levels to help ease global supply concerns. The announcement immediately brought down the price of crude – which has dropped nearly $3 per barrel since Thursday,” said Jeanette Casselano, AAA spokesperson. “This is welcome news to motorists who have not only seen pump prices increase, on average, 16 cents since the beginning of May, but are paying the highest prices to fill up since 2014.”
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