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Fuel prices continue to climb, nearing $3.50 per gallon locally

Today’s national average price for a gallon of gasoline is $3.27, up 7cents from last week. One year ago, the price was $2.19. The New York State average is $3.35 – up seven cents from last week. A year ago, the state average was $2.26. AAA Western and Central New York (AAA WCNY) reports the following averages:

In Buffalo the rate is $3.31, up 8 cents from last week. In Chautauqua County, however, the prices are closer to $3.46 a gallon.

Gasoline demand, the need for more oil production, and the price of crude oil all contribute to the fluctuating gas prices. OPEC+, which comprises the Organization of the Petroleum Exporting Countries (OPEC), and allied countries, chose not to move forward with an agreement to produce more crude oil in November. These factors combined led to an increase in gas prices locally and nationally. High crude prices — touching $78 per barrel — are keeping pump prices elevated.

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