Long Island gas prices slightly below national average, which surges past $4 per gallon

Long Island gas prices remained slightly below the national average Tuesday, as gas prices around the country surged past $4 per gallon for the first time since 2022.

On Long Island, the average price for a gallon of gas on Tuesday hit $3.89, more than a dollar higher than a month ago, according to AAA's online fuel tracker. Despite the hike, fuel costs in the region remain below the national average, which, fueled by the Iran war, hit $4.02 on Tuesday.

Prices vary state by state and, even within states, region by region. The average cost for a gallon of gas across New York State is around $3.95, according to AAA.

Gas costs less at the pump on Long Island because much of the region's gasoline is produced domestically and delivered via pipelines and barges, which are cheaper than tanker trucks, Newsday has reported. The more than 2 million passenger cars and trucks on Long Island roads also means distributors can buy gasoline in bulk. 

The outbreak of the U.S.-Israeli war with Iran on Feb. 28 has sent the cost of crude oil, a key ingredient to making gasoline, skyrocketing in recent weeks as the conflict disrupts supply chains from oil producers in the Middle East. Brent crude, considered the international standard, and U.S. crude have vaulted to prices over $100 per barrel from $70 before hostilities escalated. 

Chris Daniello, executive director at the Long Island Gasoline Retailers Association, said domestic production has likely prevented gas prices from surging even higher. He anticipates that, should supply chains in the Middle East return to normal, prices could drop closer to what they were in February. 

"This is a major conflict and we're not even hitting what we were four years ago," he said. In 2022, gas prices on Long Island hit a record $5.04 per gallon after the U.S. sanctioned Russian oil exports following the invasion of Ukraine.

It takes longer for prices to come back down, but the "production and supply is there," Daniello added. 

He pointed out, though, that another price pressure on gasoline will soon appear as Long Island and the rest of the Northeast switch from winter to summer blends of gasoline, which are costlier to process.

The price per gallon has somewhat plateaued on Long Island recently, but that's likely to be temporary, said Robert Sinclair Jr., senior manager of public affairs at AAA Northeast.

The cost of crude oil has continued to rise, he said. "As long as that keeps going up, gasoline will keep going up."

With AP

By Brianne Ledda

brianne.ledda@newsday.com@brianne_ledda

Brianne Ledda covers personal finance and affordability for Newsday. She previously covered Southold and Greenport for The Suffolk Times and is a graduate of Stony Brook University.