ROCHESTER, N.Y. — Gas prices in Rochester have climbed rapidly since the war in Iran began, and News10NBC’s Deanna Dewberry has been tracking the prices at a Fastrac on East Main Street since then.
Overnight attacks on gas fields and refineries in Iran, Qatar, the United Arab Emirates, Saudi Arabia and Kuwait caused an early morning spike in oil prices. That spike in oil prices led to higher gas prices, and consumers are now paying more at the pump. This recent hike marks the fastest rise in gas prices in 20 years, according to the Associated Press. The last time prices rose this quickly was after Hurricane Katrina.
Feeling the impact
On Thursday, Deanna found Ari, an Instacart worker profoundly impacted by the rising costs.
“I work for Instacart so I use a lot of gas. As you can see 10 bucks only gets me 2-and-a-half gallons where it used to get me five gallons at least,” Ari said.
On March 3, days after the war began, the credit price at the Fastrac was $3.05. By the next Tuesday, the price jumped 54 cents to $3.59.
As of March 19, the price climbed to $3.71 for the credit price and $3.61 for the cash price. While that’s lower than the national average price of $3.89, experts say it won’t be for long. Thta’s because the Northeast hasn’t switched to the more expensive summer blend of gasoline yet.
Typically the switch to summer gas can cause a bump of 15 to 30 cents a gallon. A new proposal could soften that blow.
Experts explain
“President Trump mentioned that he was going to be waiving the requirement to make the change to summer gasoline,” Patrick De Haan of Gas Buddy said.
But De Haan warns not to count on a price decrease. More likely, it will offset future increases.
Increases are all but certain following overnight Israeli attacks and Iranian counter-attacks on critical Middle East energy infrastructure like gas complexes and refineries. Osmo asked De Haan if the escalation gives him pause as a petroleum analyst with his finger on the pulse of the market.
“There’s not many diplomatic efforts to head off the escalation. We continue with fiery rhetoric,” De Haan said.
“So unfortunately this is likely to lead to a continued rise in gas prices for Americans and diesel also jumping along with jet fuel,” De Haan said.
President Trump can waive the law requiring a switch to the more expensive summer blend of gasoline. The summer switch is mandated because it’s better for the environment. But there’s an irony to consider:
The winter blend is less fuel efficient. If your car is using more gas, it could offset your savings at the pump.
Finding the cheapest gas
If you’re on the hunt for the best bargain at the pump, here’s how to find it.
GasBuddy has a map tool to find the best price near you. To look at that list, click here. As of Tuesday afternoon, the cheapest gas in Rochester is about $2.65 per gallon.
AAA has a similar tool, showing the average price by state and by county. To look at that map, click here.
Other helpful resources:
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