Albany gas prices see slight decline in past week
ALBANY, N.Y. » Albany gas prices have fallen 0.4 cents per gallon in the past week, averaging $2.87 per gallon today, according to GasBuddy’s daily survey of 546 stations in Albany.
Gas prices in Albany are 12.6 cents per gallon higher than a month ago and stand 58.7 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Albany is priced at $2.69/g today while the most expensive is $2.99 per gallon, a difference of 30.0 cents per gallon. The lowest price in the state today is $2.61 per gallon while the highest is $3.69 per gallon, a difference of $1.08 per gallon.
The national average price of gasoline has fallen 2.7 cents per gallon in the last week, averaging $2.84 per gallon today. The national average is up 12.9 cents per gallon from a month ago and stands 87.5 cents per gallon higher than a year ago.
“After the feverish rise in gas prices to start the year, increases have largely tapered off and we’re now seeing decreasing prices in most areas of the country, thanks to oil prices that have moderated for the time being,” Patrick De Haan, head of petroleum analysis for GasBuddy stated.
“As the Suez Canal has remained block for nearly a week, we could see some volatility in the price of oil this week as the market digests any updates as hundreds of ships remain in limbo,” De Haan continued.
“Back stateside, refiners have made the switch to summer gasoline and price impacts have been limited thus far, but demand for gasoline remains strong.
Last week saw total gasoline demand at yet another pandemic high according to GasBuddy data. As we approach warmer weather and motorists are increasingly getting outside, it could drive prices higher, so long as COVID-19 cases don’t jump along with it and lead to new travel restrictions,” De Haan added.