Albany gas prices drop again
ALBANY, N.Y. » Albany gas prices have fallen 1.6 cents per gallon in the past week, averaging $2.09 per gallon earlier this week, according to GasBuddy’s daily survey of 546 stations. Gas prices in Albany are 16.2 cents per gallon lower than a month ago and stand 73.8 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Albany is priced at $1.86 per gallon as of Monday while the most expensive is $2.49 per gallon, a difference of 63.0 cents per gallon. The lowest price in the state today is $1.61 per gallon while the highest is $2.86 per gallon, a difference of $1.25 per gallon.
The national average price of gasoline has risen 1.5 cents per gallon in the last week, averaging $1.75 per gallon as of Monday. The national average is down 14.8 cents per gallon from a month ago and stands 114.7 cents per gallon lower than a year ago.
“It’s becoming a bit clearer that those 99 cents per gallon gas prices from the COVID-19 pandemic are solidly behind us as gasoline demand rebounds across the country as cities and states slowly reopen. The lowest-priced stations in the country will see some upward movement, but most areas will still see declines,” Patrick DeHaan, head of petroleum analysis at GasBuddy commented.
“While oil may continue to struggle, a disconnect between low oil prices and rising gasoline prices has emerged at the hands of refineries that have slowed production over the past month to avoid flooding the market with unwanted gasoline. As demand stages a rebound, it remains to be seen how quickly refiners will raise production to meet the locations that have or will begin to re-open in the days and weeks ahead. For now, expect prices to see upward potential- but only in the lower-priced statesas we await a boost in gasoline production,” DeHaan added.