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One year ago this week, motorists were paying $3.15 per gallon to fuel up their vehicle. This year, that cost is $4.23 across New York state -- and closer to $4.36 in Chautauqua County.
Those figures come from AAA of Western and Central New York, which notes that volatility along the Strait of Hormuz and instability in the region have pushed crude oil prices into the high $90 per barrel range last week.
According to the latest data from the Energy Information Administration (EIA), gasoline demand is on the rise while total domestic gasoline supply is also up along with gasoline production.
Diesel prices were also up this week, with the national average at $5.30, up 19 cents from last week. Last year at this time, the national average price for diesel fuel was $3.74. The New York average for diesel fuel is $5.59, up 11 cents from last week, and up from $3.92 last year.
Combined with rising electricity costs, it's a formula for pain for household budgets that are affecting summer travel plans. In our poll last week, "Are high gas prices impacting your summer vacation plans?" about 62% of respondents said "yes" with 38% saying "no."
This week's online question, at www.observertoday.com: Should there be free parking in area downtowns?