Gas Prices Soar, Says AAA

The national average price for a gallon of gas has risen 48 cents over the past week, according to AAA. As of Monday, the national average stood at $3.48 per gallon.

In New York, the statewide average was $3.40 per gallon, an increase of 39 cents from a week ago. In the Cortland, New York area, gas prices have climbed by roughly 50 cents during the same period.

AAA says the sharp increase at the pump is largely due to ongoing conflict in the Middle East and rising crude oil prices, which have surpassed $100 per barrel for the first time since the start of the Russia–Ukraine War in 2022. The organization notes that crude oil prices have a direct impact on gas prices, accounting for nearly 60% of what consumers pay at the pump.

According to AAA, the last time motorists saw a similar jump in the national average was in March 2022, when fuel prices surged at the onset of the Russia–Ukraine conflict.

Spring typically brings higher gas prices as demand increases and refineries transition to summer-blend gasoline. However, AAA reports that gasoline demand is currently down, along with supply, while production continues to rise.

Gasoline isn’t the only fuel seeing higher prices. Diesel has also increased sharply, rising 89 cents per gallon nationwide. The national average for diesel stood at $4.66 on Monday, while the average in New York reached $4.75, up 74 cents from the previous week.