Albany gas prices fall in past week
ALBANY, N.Y. » Average gasoline prices in Albany have fallen 3.1 cents per gallon in the last week, averaging $3.52 per gallon earlier this week, according to GasBuddy’s survey of 546 stations in Albany. Prices in Albany are 2.3 cents per gallon higher than a month ago and stand 22.7 cents per gallon lower than a year ago. The national average price of diesel has fallen 6.9 cents in the last week and stands at $4.45 per gallon.
According to GasBuddy price reports, the cheapest station in Albany was priced at $3.18 per gallon on Monday while the most expensive was $3.74 per gallon, a difference of 56.0 cents per gallon. The lowest price in the state on Monday was $2.89 per gallon while the highest was $4.46 per gallon, a difference of $1.57 per gallon.
The national average price of gasoline is unchanged in the last week, averaging $3.37 per gallon on Monday. The national average is down 2.7 cents per gallon from a month ago and stands 14.5 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
“Motorists across many areas of the country have seen gas prices inching down for another week, while some states have moved higher. We’ve seen some refinery challenges in pockets of the country, while others are starting the transition to summer gasoline, weighing on prices. For diesel, the outlook remains bright with prices continuing to fall, ” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Oil prices have softened over the last week, helping to limit any upside at the pump, with strong economic data leading to concern that the Fed will continue to use interest rates to slow the economy. This could weaken demand as we head into the peak summer driving season. For diesel, the great news is that the most common price in the U.S. for diesel is now $3.99 per gallon, with average prices continuing to drop. In the next couple of weeks, diesel will finally flip to deflationary compared to a year ago, which is excellent news for the economy.”