State, national gas prices inch downward

The average retail gasoline price in New York state fell 0.5 cents per gallon last week to settle at $2.98 on 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, $3.01 in Dutchess County, $2.95 in Greene County and $2.95 in Columbia County.

The national average Sunday was $2.82 per gallon, down 3.1 cents from a week earlier.

‘“The national average price of gasoline has fallen to its lowest level since May 7, some 105 days ago, when many of us were dreaming of summer road trips and falling gas prices,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “... Oil prices have held in the mid-60s per barrel, the price of which has been determined by a delicate balancing act of global optimism and pessimism surrounding a long litany of possible economic issues.

“As we race towards summer’s finish line, we may see more pessimism weigh on oil markets, offering some relief to weary drivers who’ve seen the most expensive summer at the pump since 2014,” DeHaan added. “Labor Day will likely claim the cheapest prices for a summer holiday this year, and I’m sure millions of motorists will take advantage.”

New York’s average gas price Sunday was 1.3 cents per gallon lower than a month earlier but still 53.6 cents higher than the same day a year ago.

The national average has dropped 1.7 cents per gallon during the last month but stands 50.5 cents higher than a year ago.

Average gasoline prices on Aug. 20 in New York state have ranged widely over the last five years: $2.44 per gallon in 2017, $2.29 in 2016, $2.74 in 2015, $3.72 in 2014 and $3.82 in 2013.