Gas prices fall again; further decline likely

KINGSTON, N.Y. » The average retail price of gasoline in New York fell 3.5 cents per gallon in the past week to settle at $2.67 on Sunday.

Gas was markedly cheaper than the state average in the KingstonUlster area on Monday, with most stations selling 87-octane unleaded for $2.43 per gallon, according to gasoline price website GasBuddy.com.

The national average on Sunday was $2.45 per gallon, down 1.6 cents from a week earlier.

“For the fifth straight week, the national average gasoline price has moved lower,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Though not all states saw decreases in the last week, we nonetheless saw the nation’s average price per gallon fall as we continue into the peak of fall, which is hardly a surprise.

“While prices nationally remain an average of 20 cents higher than a year ago, we’ll likely continue to see improvement at the pump into a sixth week as supply outpaces demand and gasoline inventories continue their slow recovery as we soon close out an active hurricane season,” DeHaan said.

New York’s average gasoline price Sunday was 12.1 cents per gallon lower than a month ago but 32.5 cents higher than a year ago.

The national average has fallen 16.2 cents per gallon in the last month but is still 22.3 cents higher than a year ago.

According to GasBuddy historical data, gasoline prices on Oct. 16 in New York state have ranged widely over the last five years: $2.34 per gallon in 2016, $2.38 in 2015, $3.48 in 2014, $3.61 in 2013 and $4.09 in 2012.