No Oc­to­ber swoon for gas prices this year

Daily Freeman (Kingston, NY) - - FRONT PAGE - Free­man staff

The trend of the past four years has yet to re­turn be­cause of higher oil prices and lower re­fin­ery out­put.

The av­er­age re­tail gaso­line price in New York state de­clined by 0.4 cents per gal­lon last week to set­tle at $2.34 on Sun­day.

In the Kingston-Ul­ster area Mon­day af­ter­noon, most sta­tions were sell­ing 87-oc­tane un­leaded for $2.23 to $2.25 per gal­lon, vir­tu­ally un­changed from a week ear­lier, ac­cord­ing to the gaso­line price web­site Gas­Buddy.com.

The na­tional av­er­age gaso­line price on Sun­day was $2.23 per gal­lon, down 2.4 cents from a week ear­lier, ac­cord­ing to Gas­Buddy.

“Oc­to­ber is a time we all ex­pect gas prices to de­cline,” said Gregg Laskoski, a se­nior pe­tro­leum an­a­lyst for Gas­Buddy. He noted that in the past four years, the U.S. av­er­age has dropped be­tween 11 and 34 cents per gal­lon be­tween Oct. 1 and 31.

“But this month has proven to be an ex­cep­tion, with the na­tional av­er­age still a few cents higher than where it was on Oct. 1,” Laskoski said. “While the price in­crease of crude oil has stalled the ex­pected price de­crease for re­tail gaso­line, prob­lems at ma­jor re­finer­ies ... have ad­versely im­pacted sup­ply as well.”

Laskoski said U.S. re­fin­ery out­put is at its low­est level since Jan. 22, 2015.

New York state’s av­er­age gaso­line price on Sun­day was 3.7 higher than a month ear­lier but 3.2 cents per gal­lon lower a year ago. The na­tional av­er­age on Sun­day was 3 cents higher than a month ago but 3.4 cents lower than a year ago.

Ac­cord­ing to Gas­Buddy his­tor­i­cal data, gaso­line prices on Oct. 17 in New York have ranged widely over the last five years: $2.37 per gal­lon in 2015, $3.47 in 2014, $3.60 in 2013, $4.08 in 2012 and $3.71 in 2011.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.