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Tuesday, September 16, 2014
ENP STAFF REPORTS
news@eastniagarapost.com
Lockport area gas prices fell almost three cents this week, according to AAA East Central’s weekly Fuel Gauge report.
AAA East Central reports the average price of self-serve regular unleaded gasoline, based on reports from 21 stations in the Lockport area, was $3.654, down from $3.681 last week and $3.786 this time last year.
The average price for unleaded regular gasoline in New York was $3.666.
The national average price for regular unleaded gasoline is $3.38 per gallon. Today’s national average is a nickel lower than a week ago, eight cents less than a month ago and 14 cents less than a year ago.
The average price at the pump typically falls during this time of year due to decreased demand and the transition to winter-blend gasoline. Starting on September 15, retailers could begin selling a gasoline blend that is less expensive to produce because it does not have to meet the same federal emissions reduction standards required during warmer summer months.
Over the past seven days the average price in 49 states and Washington, D.C., has declined, with motorists in three Midwestern states saving more than a dime: Indiana (-14 cents), Michigan (-13 cents) and Ohio (-12 cents).
Late last week, the United States issued another round of sanctions targeting Russia’s energy, defense and financial sectors. Similar action was taken by the European Union, and in combination could impact U.S. oil companies that produce oil with Russia. Market watchers will continue to monitor this situation and its impact on global markets.
While West Texas Intermediate (WTI) crude oil eked out gains on the day yesterday, it remained near its cheapest price of the year. At the close of Monday’s formal trading on the NYMEX, WTI settled up 65 cents at $92.92 per barrel.
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news@eastniagarapost.com
AAA East Central reports the average price of self-serve regular unleaded gasoline, based on reports from 21 stations in the Lockport area, was $3.654, down from $3.681 last week and $3.786 this time last year.
The average price for unleaded regular gasoline in New York was $3.666.
The national average price for regular unleaded gasoline is $3.38 per gallon. Today’s national average is a nickel lower than a week ago, eight cents less than a month ago and 14 cents less than a year ago.
The average price at the pump typically falls during this time of year due to decreased demand and the transition to winter-blend gasoline. Starting on September 15, retailers could begin selling a gasoline blend that is less expensive to produce because it does not have to meet the same federal emissions reduction standards required during warmer summer months.
Over the past seven days the average price in 49 states and Washington, D.C., has declined, with motorists in three Midwestern states saving more than a dime: Indiana (-14 cents), Michigan (-13 cents) and Ohio (-12 cents).
Late last week, the United States issued another round of sanctions targeting Russia’s energy, defense and financial sectors. Similar action was taken by the European Union, and in combination could impact U.S. oil companies that produce oil with Russia. Market watchers will continue to monitor this situation and its impact on global markets.
While West Texas Intermediate (WTI) crude oil eked out gains on the day yesterday, it remained near its cheapest price of the year. At the close of Monday’s formal trading on the NYMEX, WTI settled up 65 cents at $92.92 per barrel.
Send an email to news@eastniagarapost.com with "email update" in the subject line.
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