Gas prices dip slightly in N.Y., rise nationwide

An industry analyst says 'a mixed bag of increases and decreases' are likely in the weeks ahead.

The average retail price of gasoline in New York state fell a penny per gallon in the past week to settle at $2.65 on Sunday.

Most gas stations in the Kingston-Ulster area were selling 87-octane unleaded for $2.41 to $2.43 per gallon, according to gasoline price website GasBuddy. com.

“Oil prices have rebounded in the last week, led higher by geopolitical tensions and declining inventories, leading gasoline prices in some parts of the country to make an unseasonable move higher,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “As refineries continue autumn maintenance, we may continue to see gasoline inventories under pressure, with a mixed bag of increases and decreases in the weeks ahead until the conclusion of such maintenance.

“Meanwhile, exports of crude oil and refined products continue to hit record levels, also weighing on markets,” DeHaan said. “Without the ability to export crude oil, inventories in the U.S. would have continued to increase, keeping pressure on oil prices, but without such protection, oil is flowing out of the U.S. at record pace.”

New York’s average gas price Sunday was 8.5 cents per gallon lower than a month ago but 28.1 cents higher than a year ago.

The national average on Sunday was $2.45 per gallon, up 0,.6 cents from a week earlier, down 8.9 cents from a month ago and up 25 cents from a year ago.

According to GasBuddy historical data, gasoline prices on Oct. 30 in New York state have ranged widely over the last five years: $2.36 per gallon in 2016, $2.32 in 2015, $3.36 in 2014, $3.55 in 2013 and $3.92 in 2012.

For live fuel price averages, go to FuelInsights.GasBuddy.com.