Utica, NY, March 28, 2022 — New York’s average gas price is down 2 cents from last week ($4.36), averaging $4.34 per gallon. Today’s price is 54 cents higher than a month ago ($3.80), and $1.44 higher than March 28, 2021 ($2.90). New York’s average gas price is 10 cents higher than the national average.
Three things to watch for in the oil market this week:
- COVID-related lockdowns in Shanghai raise concerns of lowered demand in China, the world’s top importer of crude oil.
- The Energy Information Administration reports that gasoline demand across the USA decreased from 8.94 million barrels/day to 8.63 – the second straight week of lower demand, in contrast to the typical rise in demand during the early spring. Lower-than-expected demand exerts downward pressure on gas prices.
- OPEC+ meets on Thursday and is not expected to significantly boost production beyond an already-planned increase of 400,000 barrels/day.
“The global oil market reflects the volatility caused by the war in Ukraine grinding onward,” said Patti Artessa, Regional Director of Public and Government Affairs for AAA Northeast. “Although the price of gasoline has moderated over the past three weeks, elevated prices will likely be the norm for the spring.”
AAA Northeast’s March 28 survey of fuel prices found the current national average to be 1 cent lower than last week ($4.25), averaging $4.24 a gallon. Today’s national average price is 63 cents higher a month ago ($3.61), and $1.38 higher than this day last year ($2.86).
|Region||Current Price*||One Week Ago||One Month Ago||One Year Ago|
|New York State||$4.34||$4.36||$3.80||$2.90|
*Prices as of March 28, 2022
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search average gas prices by Regular, Plus, Premium and Diesel on National and State levels, as well as Metro areas.