Gas prices dip, should fall further after Labor Day

The average retail price of gasoline in New York state fell 1.5 cents per gallon last week to settle at $2.97 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 (unchanged from a week earlier), $3.01 in Dutchess County (also unchanged), $2.93 in Greene County (down 2 cents) and $2.91 in Columbia County (down 4 cents).

The national average Sunday was 2.83 per gallon, the same as a week earlier.

“Gas prices nationally saw little change in the last week as oil prices saw a mini-resurgence back to $69 per barrel, stifling the broad relief we saw at pumps the week prior,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “With Labor Day dead ahead, we may see a small rise in the national average this week, depending on oil’s move, but largely this seems like the last week we’ll see elevated prices, as demand is set to drop with the conclusion of Labor Day weekend. The Atlantic [Ocean weather] remains quiet, so there’s little chance of a major disruption for the time being, with the overall consensus that we’ll soon see prices falling once again across most of the country.”

New York state’s average gasoline price Sunday was 2.3 cents per gallon lower than a month earlier but still 52 cents higher than a year ago.

The national average has dropped 2.4 cents per gallon during the last month but stands 46.9 cents higher than a year ago.

Average gasoline prices on Aug. 27 in New York have ranged widely over the last five years: $2.45 per gallon in 2017, $2.32 in 2016, $2.66 in 2015, $3.69 in 2014 and $3.81 in 2013.

For live fuel price averages, go to fuelinsights.gasbuddy.com.