WNTY NBC13 reports that the average U.S. price of regular-grade gasoline jumped 14 cents a gallon over the past two weeks to $2.64 and gas prices will likely continue to rise as crude oil costs remain high.

According to New York State, the weekly average motor gasoline price in the Capital Region is $2.57 per gallon. AAA has today's New York state average at $2.69. I am certain that you have noticed the increase as you drive by Stewarts, Cumberland Farms or any gas station brand in the area. We all understand supply and demand, crude oil costs, etc. That doesn't make paying more at the pump any easier.

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This didn't just start today. One month ago I reported similar increases here in New York and around the country. Here is a comparison of January to February.

  • $2.38 National average/gallon of gas - January 2021
  • $2.64 National average/gallon of gas - February 2021
  • $2.47 New York average/gallon of gas - January 2021
  • $2.69 New York average/gallon of gas - February 2021

Massachusetts is approximately 10 cents cheaper than New York with a $2.56 average for a gallon of gas. To find a measurable difference in price you would have to fill up in Mississippi where the average cost of gas is $2.28 per gallon.

What impact did the election have on our current and future gas prices? In October of 2020 the head of petroleum analysis at Gas Buddy, Patrick De Haan, reported a Joe Biden presidency would favor more environmental controls. Under this agenda, gas prices are more likely to be impacted. If Biden curtails production such as shutting down existing production, gas prices could climb significantly.

 

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