Casandra Ferguson said Thursday some immediate relief at the gas pump would be especially helpful, since she has several new expenses nowadays.
Ferguson is expecting her first child early next year.
“For this one, around $30. For my husband’s car, it could be like $40 to $50 to fill up,” she said. “It’s a lot for gas, yea. It’s be nice if it were cheaper.”
The New York state average price for regular unleaded gas is $3.38 per gallon. That is a 10-cent increase since September, and a $1.10-increase over October 2020, according to AAA.
What You Need To Know
- The U.S. Energy Information Administration reported oil supply is still rebounding from when Hurricane Ida halted an estimated 96% of production in an around the Gulf of Mexico in August
- New Yorkers living outside of New York City may find the cheapest available options close to home
- Prices for regular unleaded at stations in parts of Manhattan are just under $5 per gallon
The U.S. Energy Information Administration reported oil supply is still rebounding from when Hurricane Ida halted an estimated 96% of production in an around the Gulf of Mexico in August.
The agency expects the average gas price to decrease to nearly $3 a gallon in December.
Industry experts told Barron’s Financial and Investment News oil producers worldwide are still struggling to recover from being crushed by low demand during the first year of the COVID-19 pandemic, which compounds the current supply-and-demand imbalance.
White House officials have asked the Organization of Petroleum Exporting Countries (OPEC+) for a significant increase in oil production with hopes of eventually lowering pump prices.
OPEC+ reported Wednesday its member nations plan only to gradually increase supply.
New Yorkers living outside of New York City may find the cheapest available options remain close to home. Prices for regular unleaded at stations in parts of Manhattan are just under $5 per gallon.
