AAA: Combination of factors contributing to continued uptick of gas prices

According to AAA, the average price of gas on Long Island is $2.86 per gallon, five cents higher than last week and about 30 cents higher than a month ago.

News 12 Staff

Mar 17, 2021, 1:50 PM

Updated 1,302 days ago

Share:

If you've headed to the gas station recently, you'll see that prices at the pump have been rising quickly - and it looks like they won't be coming down soon.
According to AAA, the average price of gas on Long Island is $2.86 per gallon, five cents higher than last week and about 30 cents higher than a month ago.
AAA's Robert Sinclair Jr. says the rising prices are due to a combination of factors -- supply and demand, human-made factors and the weather.
"We're seeing a shortage of 'supply,' leading to higher prices. On top of that, we're switching to summer blends of gasoline," says Sinclair Jr.
Sinclair Jr. says with demand going up, people are optimistic about the economy getting better as it gets warmer.
"Particularly with many states you know getting rid of their mask requirements and getting rid of their restrictions on gathering in crowds, so the anticipation is the economy will get better and a lot of investors are pouring money into oil and gasoline futures and oil and gasoline investments. And that's making the prices go up," says Sinclair Jr.
AAA says in the short term, prices will continue to rise for at least a few more weeks. But by how much will be based on supply and demand.
Some people who News 12 spoke to say the prices are making them think twice about getting behind the wheel.
"No joyriding, no cruising around!" said one person.