Gasoline prices reverse course, tick upward

Gasoline prices have ticked up after a steady decline that was unusual by summer standards.

In New York state, the average price of a gallon of gas rose 0.4 cents last week to reach $2.41 on Sunday, according to GasBuddy. com. The national average rose 2.1 cents per gallon to $2.27.

“Over the last week, gasoline prices have risen across a majority of the country, following the price of oil, which has been rising as of late,” said Patrick DeHaan, a senior petroleum analyst for GasBuddy. “OPEC’s meeting this week could steal the focus and propel markets higher or lower, depending on the outcome of the meeting, but for now, the most likely outcome would put pressure on oil prices to rise, especially if there’s talk of another oil production cut from the cartel.

“Unfortunately, motorists are likely to see gasoline prices continue to rise in more places than prices fall, but it’s not all bad news, “DeHaan added. “Gasoline prices nationally continue to hold somewhat near their summer lows, something that wasn’t at all expected earlier this year.”

Sunday’s average gasoline price in New York state was 2.3 cents lower than a month ago but 7.3 cents higher than a year ago, according to GasBuddy. The national average is up 1.4 cents from a month ago and 11.7 cents from a year ago.

According to GasBuddy historical data, gasoline prices on July 24 in New York state have ranged widely over the last five years: 2.34 per gallon in 2016, $2.89 in 2015, $3.86 in 2014, $3.93 in 2013 and $3.77 in 2012.