Gothamist

A non-profit newsroom, powered by WNYC.

Gothamist

WNYC Listen Live

Donate

 

 

News

Here’s what drove NYC gas prices higher and whether relief is on the way

By

Ramsey Khalifeh

Published Nov 2, 2026 at 12:55 p.m. ET

Share

FacebookTwitterRedditEmail

Never miss a story

 Email address

By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .

A man at a gas station in Weehawken New Jersey March 9, 2022. Prices finally dipped below $4 at some gas stations in New Jersey this past week, but analysts are cautious about all the factors that could send costs back up.

 

Kena Betancur/VIEWpress via Getty Images

By

Ramsey Khalifeh

Published Nov 2, 2026 at 12:55 p.m. ET

Share

FacebookTwitterRedditEmail

We rely on your support to make local news available to all

Make your contribution now and help Gothamist thrive in 2026. Donate today

Gothamist is funded by sponsors and member donations

The cost of living is top of mind for most New Yorkers — and the price of gas this year is playing a big part.

After the U.S. and Israel launched strikes on Iran starting in February, global gas prices rose as the geopolitical makeup of the Middle East created a strain on oil tankers traveling through the Strait of Hormuz. That passage typically carries more than 20% of the world’s oil trade.

The conflict is impacting New York, which already pays more for gas compared to states like Texas and Louisiana, located closer to oil production and refineries.

But according to Patrick De Haan, who leads petroleum analysis at the gas price monitoring platform GasBuddy, New Yorkers can expect gas prices to lower in the coming weeks as the winter season approaches. The big caveat: The Trump administration doesn’t ramp up attacks on Iran after the midterm elections.

“ Generally, we do see gas prices fall most years in the autumn. [It’s] a combination of Americans that start to stay closer to home and aren't driving as much in colder weather now that the summer is kind of behind us,” De Haan said. “As well as a seasonal switch over to cheaper winter gasoline, which happens every year in September.”

According to the platform’s own data, New York City’s average gas price in the last week — based on a survey of more than 1000 stations — is $4.37 per gallon. A year ago, the city's average price was $3.10 per gallon.

This year has been nothing but ordinary for diesel prices as well. De Haan said targeted airstrikes over the summer of oil refineries in Russia by Ukraine in the ongoing war between the two European nations have peaked diesel prices.

“ Diesel prices in the last month have set new records in just about every U.S. state,” he added.

The underlying effect of higher diesel prices on the everyday New Yorker — who relies on public transportation — is on the MTA’s balance sheet.

Transit agencies like the MTA typically ink longer-term fuel contracts and lock in pricing for months at a time to supply their buses or a crop of their diesel-powered work repair trains. While the influx in global diesel prices might not affect the transit agency now, De Haan said a future with prices staying high could.

“The higher cost of diesel will eventually likely cause these agencies to have some imbalances in their budget and whether or not they raise fares or they somehow find revenue to offset that somewhere else is up to the respective agency,” De Haan said.

Tagged

economy

new york city

news

Ramsey Khalifeh

Ramsey Khalifeh is a transportation reporter on the NYC Accountability desk covering the largest transit system in the country. He was previously a general assignment reporter at Gothamist and worked on the Boston Globe's metro and copy desk. Got a tip? Email [email protected]

Read more

Gothamist is funded by sponsors and member donations

Gothamist is funded by sponsors and member donations

MORE news

NY opens HEAP applications to help pay for heating costs

The benefit increased this year due to rising oil and kerosene prices.

By

Louis C. Hochman

Published Nov 2, 2026 at 1:34 p.m. ET

Early Addition: It's past time for a flu shot

Because cases are on the rise in New York, here are your early links: Winter Village in Bryant Park is already open, John Turturro tells cyclists in Prospect Park to chill out, the co-founder of techno music dies and more.

By

James Ramsay

News

Early Addition: It's past time for a flu shot

Because cases are on the rise in New York, here are your early links: Winter Village in Bryant Park is already open, John Turturro tells cyclists in Prospect Park to chill out, the co-founder of techno music dies and more.

By

James Ramsay

Buzzer beater? MTA vows to turn this SoHo pit into a basketball court in 30 days.

By

Liam Quigley

NYC's school PTA fundraising gap is growing, mirroring broader racial disparities

By

Joe Hong

MTA should eliminate some jobs to prepare for budget woes, watchdog writes

By

Stephen Nessen

Never miss a story

Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.

Sign upEmail address

By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .