Albany gas prices rise in past week
ALBANY, N.Y. » Albany gas prices have risen one cent per gallon in the past week, averaging $2.14 per gallon as earlier this week, according to GasBuddy’s daily survey of 546 stations.
Gas prices in Albany are 4.9 cents per gallon higher than a month ago and stand 64.4 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Albany is priced at $1.94 per gallon while the most expensive is $2.25 per gallon, a difference of 31.0 cents per gallon.
The lowest price in the state is $1.69 per gallon while the highest is $3.09 per gallon, a difference of $1.40 per gallon.
The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $1.97 per gallon. The national average is up 20.0 cents per gallon from a month ago and stands 84.5 cents per gallon lower than a year ago.
“The pace of increases has begun to throttle back over the last week in most states as gasoline demand’s recovery has slowed, keeping prices from matching their rapid pace from just a couple weeks ago. Prices will continue to move in lockstep with the coronavirus situation, so it remains challenging to know where prices will go in the weeks ahead,” Patrick De Haan, head of petroleum analysis for GasBuddy commented.
“Oil prices saw another weekly rise, closing last week at over $35 per barrel due to a collision between oil production cuts and gasoline demand in the U. S. which has been on the mend, leading oil’s rally. The recovery in gas prices is likely to continue, though at a slower pace than what we’ve seen, with $2 per gallon likely coming in the next week or two,” De Haan added.