AAA releases first gas prices for June in NNY
According to the organization, the average cost of a gallon of gas in the City of Watertown dropped one cent from last week to $3.17 per gallon. The average cost is a composite of different prices from a multitude of gas stations from in and around the area.
Traffic Alert: Multiple projects set for Monday in Watertown
Here's a look at the average gas prices in and around the region:
Batavia – $3.14 (down one cent from last Monday)
Buffalo – $3.08 (no change from last Monday)
Elmira – $2.99 (no change from last Monday)
Ithaca – $3.05 (up one cent from last Monday)
Rochester – $3.11 (no change from last Monday)
Rome – $3.21 (down one cent from last Monday)
Syracuse – $3.05 (down one cent from last Monday)
Watertown – $3.17 (down one cent from last Monday)
The national average price for a gallon of gasoline is $3.14, down three cents from Monday, May 26. One year ago, the price was $3.54. The state average is $3.12, down a penny from last Monday. A year ago, the state average was $3.66.
For drivers who use diesel fuel, the national average price for diesel is $3.51, down one cent from last Monday. The NYS average is $3.87, on par with last week.
When it comes to EV charging, the national and state averages for L2 commercial electricity remain steady. Today's national average per kilowatt hour of electricity at a public EV charging station stands at 36 cents.
With crude oil prices lingering in the low $60s per barrel, drivers are reaping the benefits at the pump. The national average is down about three cents from last week. While fuel prices are expected to remain on the lower side compared to last summer, weather is the wild card. The Atlantic hurricane season began Sunday, and NOAA predicts a 60-percent chance of an above-normal season. Storms along the Gulf Coast can affect oil refineries and disrupt fuel deliveries, leading to a temporary increase in gas prices.
According to the latest data from the Energy Information Administration (EIA), gasoline demand increased over the holiday weekend while total domestic gasoline supply increased as well. Gasoline production is also on the rise, averaging 9.8 million barrels per day.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Zeekr Boosts Margins, Slashes Losses As New Models Power Sales
ZEEKR Intelligent Technology (NYSE:ZK), a premium electric vehicle (EV) unit of Geely Auto, reported fiscal second-quarter results on Thursday. The company reported quarterly revenue of 27.43 billion Chinese yuan, representing a decrease of 0.9% year-on-year (Y/Y). In U.S. dollars, revenue totaled $3.83 billion. The revenue grew by 24.6% quarter-on-quarter (Q/Q).Total vehicle deliveries were 130,866 units for the quarter, representing a 9.3% Y/Y increase and a 14.8% Q/Q increase. The Zeekr brand delivered 49,337 vehicles. Meanwhile, the Lynk & Co brand delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models. The premium electric vehicle company's adjusted net loss per ADS was 1.42 Chinese yuan. In U.S. dollar terms, the company reported adjusted net loss per ADS of 20 cents. Vehicle sales revenue were 22.92 billion Chinese yuan ($3.2 billion) for the quarter, representing an increase of 2.2% Y/Y driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The revenue grew by 20.0% Q/Q, mainly driven by sales growth resulting from the launch of new models. View more earnings on ZK The vehicle margin was 17.3%, up from 11.5% in the prior year quarter, driven by sustained cost-saving initiatives. The prior quarter margin was 16.5%. Revenues from other sales and services declined 13.8% Y/Y to $630 million for the quarter, due to a decrease in R&D revenue from related parties. The revenue grew by 54.5% Q/Q due to the increased overseas sales of battery packs and electric drives. The gross margin expanded to 20.6% for the quarter from 18.0% a year ago. The prior quarter margin was 19.1%. Adjusted net loss was $51 million for the quarter, down by 81.2% Y/Y. The loss declined by 38.8% Q/Q. As of June 30, 2025, cash and cash equivalents and restricted cash stood at 10.21 billion Chinese yuan ($1.43 billion). Zeekr stock gained 4.4% year-to-date signifying intense electric vehicle competition from the likes of Tesla (NASDAQ:TSLA), Nio (NYSE:NIO). Price Action: ZK shares are trading higher 1.21% to $29.99 premarket at last check Thursday. Photo by aapsky via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Zeekr Boosts Margins, Slashes Losses As New Models Power Sales originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
32 minutes ago
- Yahoo
Lucid Motors Is Caught in a Tariff Trap. Is LCID Stock More Likely to Hit $1 or $7 in 2025?
Electric vehicle (EV) stocks have had a turbulent run over the past year, as production delays, rising costs, and shifting trade policies shake up the sector. This time, Lucid Group (LCID) now finds itself caught in a 'tariff trap,' with newly imposed duties cutting into margins and forcing management to lower its production outlook despite posting record deliveries. Management now guides for 18,000-20,000 vehicles produced in 2025 and revealed a $54 million tariff hit that pushed its gross margin deeply into the negative. Executives say localized sourcing should blunt the pain, but volatility remains. More News from Barchart Why This Cannabis Penny Stock Could Be Wall Street's Next Meme Trade Breakout Apple Stock Is Gaining Momentum, Is AAPL Stock a Buy? Peter Thiel-Backed Bullish Is About to IPO. Should You Buy BLSH Stock? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. So which way for LCID in 2025: A collapse to $1 or a rebound to $7? About Lucid Stock Based in California, Lucid Group is an electric vehicle maker focused on premium, long-range EVs. Best known for the Lucid Air sedan, the company builds vehicles at its Arizona facility and targets the luxury EV market as a rival to Tesla (TSLA). Recently, Lucid's growth story has been clouded by production tweaks and tariff-driven margin pressure. With a market cap near $7 billion, Lucid's shares have lagged the broader market over the past year, falling 22.5%. Despite underperforming, LCID faces a challenging valuation landscape. Its trailing EV-sales ratio is 9.4x, significantly higher than the sector median of 1.28x, indicating a very expensive stock compared to its peers. However, the price-book ratio of 2.12x is slightly undervalued compared to the sector median of 2.69x. Lucid Misses Q2 Earnings Estimate Lucid Group shares slid 9.7% on Aug. 6 after the EV maker missed Wall Street's Q2 2025 expectations for both revenue and earnings. The company posted a loss of $0.24 per share, falling short by $0.22, while revenue rose 29% year over year to $259.4 million, missing estimates for $283.2 million. Despite delivering a record 3,309 vehicles in the quarter, headwinds from tariffs and a trimmed production outlook weighed heavily on investor sentiment. Tariffs alone shaved $54 million off quarterly results, hitting the gross margin by 21 percentage points and leaving it deeply negative at -105%. Management said these pressures were anticipated and outlined plans to blunt the impact through localized sourcing, vertical integration, and cost optimization. Looking ahead, Lucid lowered its 2025 production guidance to 18,000-20,000 vehicles, down from the prior 20,000 target, and trimmed its capital spending forecast to between $1.1 billion and $1.2 billion. On the strategic front, Lucid is doubling down on partnerships. A newly announced collaboration with Uber (UBER) and Nuro aims to develop a premium robotaxi platform, supported by a planned $300 million Uber investment pending regulatory approval. The deal could see 20,000 Lucid Gravity vehicles deployed over six years, marking a major push into autonomous mobility. To boost brand awareness ahead of its midsize EV launch, Lucid also named actor Timothée Chalamet as its first global ambassador. While near-term profitability remains elusive, management is betting that its technology edge, disciplined capital allocation, and brand-building initiatives will pay off in the long run. What Do Analysts Think About Lucid Stock? After Lucid's Q2 print, Bank of America reiterated an 'Underperform' rating and kept a $1 price target, pointing to the hefty tariff hit and severe margin pressure as the main concerns. Robert W. Baird trimmed its price target to $2 from $3 while maintaining a 'Neutral" rating, citing the company's pulled-back 2025 production guidance and the resulting uncertainty for near-term profitability. Overall, Wall Street has taken a cautious stance on Lucid Group, with many firms assigning a 'Hold' rating. The stock is trading near a mean price target of $2.76, but the Street's wide range, a $1 low and a $7 high, issued by Ladenburg Thalmann, shows it could swing sharply either way. With tariff headwinds and a trimmed production outlook, downside risk looks more probable in the near term, though successful cost cuts or localized sourcing could push the shares toward the high case. On the date of publication, Nauman Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
VinFast founder to inject another $1.5 billion in exchange for R&D assets
(Reuters) -VinFast's founder Pham Nhat Vuong has agreed to buy the EV maker's research and development arm for $1.52 billion, his latest cash injection into the loss-making Vietnamese company as it strives to break even by the end of 2026. The deal will involve Novatech Research and Development JSC, a Vietnam-incorporated entity, being carved out of VinFast Trading and Production JSC (VFTP), its domestic manufacturing arm, VinFast said in a filing to the U.S. Securities and Exchange Commission. Novatech will hold investment costs tied to completed R&D projects, while VFTP will continue to lead EV production and future research in Vietnam. VinFast, which debuted on the Nasdaq in 2023, has faced challenges including weak consumer demand and stiff competition. It made a net loss of $712.4 million for the first quarter, although revenue jumped 150% to $656.5 million. VinFast's shares were up 1.4% to $3.59 in pre-market trade. Since its launch in 2017, the company has relied heavily on support from Vuong, who holds about 98% of shares in VinFast and its parent company Vingroup, where he serves as chairman. The transfer of shares in Novatech to Vuong, valued at nearly 40 trillion dong ($1.52 billion), comprises a fair value assessment of 17.25 trillion dong plus a premium. Intellectual property linked to Novatech's assets will be leased back to VinFast for manufacturing purposes as needed. VinFast has said it has completed the development of its first generation of EVs. Research and development costs were $81.2 million in the first quarter of 2025, down 22.3% year-on-year. The EV maker has set a delivery target of 200,000 cars for 2025, more than double its deliveries in 2024. Most of VinFast's deliveries are in the Vietnamese market. ($1 = 26,230.0000 dong) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
