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Oil Prices

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Gas Prices Hit New Record High In New York Amid Surge In Oil Costs Gas Prices Hit New Record High In New York Amid Surge In Oil Costs
Gas Prices Hit New Record High In New York Amid Surge In Oil Costs There is no relief in sight for motorists in New York as prices at the pump continue to rise to new record highs, according to AAA. As of Monday, May 16, AAA was reporting that the average price per gallon has risen to $4.76 in New York, setting another new record after peaking at $4.52 a week prior, the previous high. Diesel gas is also on the rise, up to $6.50 as of Sunday, May 15, also a new record in New York. According to AAA, there is not expected to be any relief for drivers with Memorial Day and the busy summer driving season fast approaching. “The high cost of oil, the key ingre…

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by Zak Failla
Business
Gas Demand Hits Lowest Level in Nearly Two Years, Lowering Cost Gas Demand Hits Lowest Level in Nearly Two Years, Lowering Cost
Gas Demand Hits Lowest Level in Nearly Two Years, Lowering Cost Prices at the pump continue to plummet for motorists, as the gasoline demand hits its lowest level in nearly two years, AAA announced. Nationally, the average motorist is paying $2.23 per gallon, down from $2.49 a year ago and down 19 cents from a month ago. The price drop comes despite a record number of travelers throughout the country during the holiday season. According to AAA, the average price per gallon has dropped each week for more than three months. Officials cited supply and demand for the decreasing prices. “As the global crude market continues to be oversupplied, oil prices ar…

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by Zak Failla