Area gasoline prices steady in past week

ALBANY, N.Y. » Albany gas prices are unchanged in the past week, averaging $2.87/g today, according to GasBuddy’s daily survey of 546 stations in Albany. Gas prices in Albany are 7.8 cents per gallon higher than a month ago and stand 61.7 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Albany is priced at $2.64 per gallon while the most expensive is $3.00 per gallon, a difference of 36.0 cents per gallon. The lowest price in the state today is $2.61 per gallon while the highest is $3.39 per gallon, a difference of 78.0 cents per gallon.

The national average price of gasoline has fallen 0.4 cents per gallon in the last week, averaging $2.86 per gallon today. The national average is up 9.9 cents per gallon from a month ago and stands 95.5 cents per gallon higher than a year ago.

“Last week was a mixed bag for consumers at the pump as gas prices in half of states rose, while the other half saw declines, with March closing like a lamb after starting out like a lion,” Patrick De Haan, head of petroleum analysis for GasBuddy stated.

“Oil prices have shown signs of strength in the last few trading sessions, as OPEC agreed to raise oil production starting in May by a very modest 350,000 barrels per day. Overall, it’s a small increase in output as global demand continues to show strength in light of Covid-related improvements. U.S. gasoline demand rose for the sixth straight week as consumers hit the road for Easter, and with demand growth likely to remain robust, we may see a second attempt at a run at a national average of $3 per gallon in the months ahead. While the last few weeks have seen gas prices hold mostly steady, it’s not likely to last forever, especially as Americans increasingly get outside as warmer temperatures return,” De Haan added.