GARDEN CITY, NY (March 4, 2022) The average price for a gallon of unleaded regular gasoline in New York City has hit four dollars, a price not seen since July 19, 2014. New York City’s price has surged 19 cents per gallon in just the last two days to $4.05. The five boroughs first hit the lofty price on May 15, 2008. The highest price ever in New York City was $4.41 on July 16, 2008. New York City also experienced four dollar gasoline in 2011, 2012 and 2013.
“Four dollars per gallon is something that drivers usually speak of in hushed tones, worried the imposing figure previously endured might return at some painful, future time,” said Robert Sinclair, Jr., of AAA Northeast. “Unfortunately, the future is now.
In a March 2018 driver survey by AAA, 40 percent of respondents said they would have trouble paying for gasoline at three dollars per gallon. Gasoline has been at three dollars per gallon in New York City since April 23rd, 2021. With the economy worse now compared to when the survey was taken, a greater proportion of drivers must be suffering through the current high gasoline prices.
A year ago, New York City drivers paid $2.87 a gallon. A vehicle with a 15-gallon tank needed just over $43 to fill up then. At today’s price, a driver would need to fork over more than $60 to fill their tank.
Around the tri-state region, Long Island is not far behind the five boroughs with an average today of $4.01 per gallon. Nassau/Suffolk last saw four dollar gasoline on March 7, 2013.
Gasoline prices are poised to go even higher. The price of crude oil started today over $111 per barrel due to the war in Ukraine, and will likely increase with continuing conflict. Improving weather will lead to more driving, increased gasoline demand, and higher prices. And the middle of this month will see the beginning of the switch to more expensive blends of summer gasoline. Pain at the pump looks like it will continue for months to come.