N.Y. gas prices inch up again, but moderation expected

KINGSTON, N.Y. >> Average retail gasoline prices in New York have risen 0.7 cents per gallon in the past week, averaging $2.52 per gallon Sunday.

This compares with the national average, which has increased 1 cent per gallon in the last week to $2.42, according to gasoline price website GasBuddy.com.

Including the change in gas prices in New York during the past week, prices Sunday were 23.6 cents per gallon higher than the same day one year ago and are 10.4 cents per gallon higher than a month ago.

The national average has increased 13 cents per gallon during the last month and stands 28 cents per gallon higher than this day a year ago.

According to GasBuddy historical data, gasoline prices on April 24 in New York have ranged widely over the last five years: $2.28 per gallon in 2016, $2.68 per gallon in 2015, $3.86 per gallon in 2014, $3.73 per gallon in 2013 and $4.12 per gallon in 2012.

“Gasoline prices saw another weekly lift, yet have begun to slow their ascent in recent days,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Since mid-February, average gasoline prices have risen 17 cents, a far cry from the 41-cent gain during the same time a year ago. While the annual spring spike remains subdued, prices do remain 28 cents higher than a year ago, though the gap has narrowed.

“Overall, I would be surprised if we see the national average rise substantially more since the deadline for refiners to switch over to summer gasoline is nearly here. In addition, U.S. oil production numbers are up, keeping pressure on oil prices, while gasoline inventories remain very healthy. While we may see the national average rise to the low side of our previous predictions of $2.51-$2.83 per gallon for May, we’re unlikely to see anything higher, which is certainly good news for motorists,” DeHaan added.

For live fuel price averages, visit http://FuelInsights.GasBuddy.com.