Gaso­line prices rise, but Saudi move could re­verse trend

Daily Freeman (Kingston, NY) - - LOCAL NEWS - Free­man staff

KINGSTON >> The av­er­age re­tail gaso­line price in New York state rose 1.8 cents per gal­lon last week, reach­ing $2.34 on Sun­day.

In the Kingston-Ul­ster area Mon­day af­ter­noon, most sta­tions were sell­ing 87-oc­tane un­leaded for $2.21 to $2.25 per gal­lon, ac­cord­ing to the gaso­line price web­site GasBuddy.com.

“Gaso­line prices have risen in much of the coun­try over the last week as crude oil prices rose to over $50 per bar­rel as the mar­ket weighed the pos­si­bil­ity of OPEC cut­ting pro­duc­tion,” said Pa­trick DeHaan, a se­nior petroleum an­a­lyst for GasBuddy.

But “mov­ing for­ward, oil may be on shaky ground as signs emerge that OPEC may not cut pro­duc­tion as they in­di­cated two weeks ago,” De-

Haan said. “The Saudis re­cently cut crude oil prices to some cus­tomers for Novem­ber delivery, a fresh sign the king­dom is stay­ing ag­gres­sive about mar­ket share. This could lead to some re­lief as we head to­ward the hol­i­days.”

New York’s av­er­age gas price on Sun­day was 5.7

cents per gal­lon lower than the same day a year ago but 2.5 cents higher than a month ago.

Sun­day’s na­tional av­er­age of $2.25 per gal­lon was 3.3 cents higher than a week ear­lier and 7.9 cents higher than a month ago but still 6.1 cents lower than a year ago.

Ac­cord­ing to GasBuddy his­tor­i­cal data, gaso­line prices on Oct. 10 in New York state have ranged widely over the last five

years: $2.39 per gal­lon in 2015, $3.54 in 2014, $3.63

in 2013, $4.12 in 2012 and $3.68 per gal­lon in 2011.

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