Gas prices expected to decline this month

KINGSTON, N.Y. » The average retail gasoline price in New York state fell 1.1 cents per gallon last week, settling at $3.05 per gallon Sunday, according to GasBuddy.com.

In the Mid-Hudson Valley, according to GasBuddy, average prices per gallon Monday morning were $2.97 in Ulster County (down a penny from a week ago), $3.09 in Dutchess County (down 2 cents), $3.04 in Greene County (down 2 cents) and $2.97 in Columbia County (unchanged).

The national average Sunday was $2.91 per gallon, down 3.1 cents from a week earlier.

“Gasoline prices continue to fade after peaking just ahead of Memorial Day, largely in part due to previous discussion that OPEC may lift output, pushing oil prices back down to the mid-$60s,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “As we’ve been expecting for months, gas prices will likely decline in the month of June as summer gasoline inventories continue to build and refiners continue to crank out fuels like gasoline and diesel.

“A solid majority of states saw average gas prices decline last week, and I expect we’ll hold that trajectory again this week,” DeHaan said.

New York’s average gas price Sunday was 8.7 cents per gallon higher than a month earlier and 57.6 cents higher than a year ago.

The national average has increased 4.8 cents per gallon in the last month and stands 58.5 cents higher than a year ago.

Average gasoline prices on June 11 in New York state have ranged widely over the last five years: $2.48 per gallon in 2017, $2.44 in 2016, $2.89 in 2015, $3.86 in 2014 and $3.74 in 2013.

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