Gas prices hold steady in N.Y., inch down nationwide

The average retail prices of gasoline in New York state was unchanged last week and stood at $2.93 per gallon on Sunday, according to GasBuddy.com.

In the Mid-Hudson Valley, GasBuddy said, the average prices Monday afternoon were $2.90 per gallon in Ulster County (up 2 cents from a week earlier), $2.98 in Dutchess County (up 1 cent), $2.90 in Greene County (up 1 cent) and $2.82 in Columbia County (down 3 cents).

Sunday’s national average was $2.80 per gallon, down 0.9 cents from a week earlier.

“The rise in gas prices has slowed substantially in the last week in some places, with 15 states seeing gas prices move lower vs. last week,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “While we may not be out of the woods yet, especially with President Trump mulling over the Iran nuclear deal, it’s possible we’re very close. Much will depend on his decision on the subject. Killing the deal may inflict more pain on motorists as it may lead to sanctions placed on Iran and their oil production, which would likely push oil prices higher.

“With summer gasoline now phased in and reaching motorists gas tanks across the country, it is no longer an active issue pushing prices up,” DeHaan added. “Oil’s moves and possible moves will likely be the key catalyst behind changes at the pump in the weeks ahead as summer driving season soon gets underway. Motorists should expect the national average to drift around in the upper $2-per-gallon range for much of the summer.”

New York’s average gas price Sunday was 17.4 higher than a month ago and 43 cents higher than a year ago, according to Gas Buddy. The national average on Sunday was up 14.5 cents from a month ago and up 46.5 cents from a year ago.

According to GasBuddy historical data, gasoline prices on May 7 in New York state have ranged widely over the last five years: $2.50 per gallon in 2017, $2.37 in 2016, $2.82 in 2015, $3.90 in 2014 and $3.70 in 2013.