Gas prices hold steady, but increase expected

The average retail price of gasoline in New York state was unchanged over the past week, standing at $3 per gallon Sunday, according to GasBuddy.com.

In the Mid-Hudson Valley, according to GasBuddy, average prices per gallon Monday afternoon were $2.87 in Ulster County (down 2 cents from a week earlier), $3.04 in Dutchess County (up a penny), $2.98 in Greene County (down 5 cents) and $2.95 in Columbia County (up 9 cents).

The national average Sunday was $2.85 per gallon, down 0.3 cents from a week earlier, according to GasBuddy.

“As gas prices saw their highest level on July 4 in four years, President Trump continues to try to push OPEC to produce more crude oil, but so far, it hasn’t materialized into much of anything,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Gas prices have inched up in a majority of states, and oil prices remain comfortably above $70 per barrel, with no significant relief any time soon.

“In addition, with a brief reminder of hurricane season as Beryl formed, there may be more worries that, in the weeks ahead, the Atlantic could churn out more storms, thus more risk of disruption in regards to oil or refinery infrastructure,” DeHaan added. “There’s little downward pressure on oil prices as we remain in the midst of the summer driving season, and, unless we see credible evidence to suggest OPEC or other countries are producing more oil, we will likely continue to see gas prices drift higher.”

New York state’s average gas price Sunday was 5.5 cents per gallon lower than a month earlier but still 58.9 cents higher than the same day a year ago.

The national average has dropped 6.1 cents per gallon during the last month but stands 60 cents higher than last year at this time.

Average gasoline prices on July 9 in New York have ranged widely over the last five years: $2.41 per gallon in 2017, $2.39 in 2016, $2.93 in 2015, $3.92 in 2014 and $3.72 in 2013.