Capital Region gas prices on the rise

ALBANY, N.Y. » Albany gas prices have risen 2.2 cents per gallon in the past week, averaging $2.90 per gallon today, according to GasBuddy’s daily survey of 546 stations in Albany.

Gas prices in Albany are 3.3 cents per gallon higher than a month ago and stand 81.0 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Albany is priced at $2.61 per gallon today while the most expensive is $3.08 per gallon, a difference of 47.0 cents per gallon. The lowest price in the state today is $2.65/g while the highest is $3.79 per gallon, a difference of $1.14 per gallon.

The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $2.89 per gallon today. The national average is up 1.8 cents per gallon from a month ago and stands $1.13 per gallon higher than a year ago.

“The nation’s gas prices perked up again last week as oil prices advanced to fresh multiyear highs on Covid improvements overseas and the switch to summer gasoline, which is basically now complete,” Patrick De Haan, head of petroleum analysis for GasBuddy said.

“Last week saw the national average hit its highest level in two years, and with continued recovery in gasoline demand, the increase in price is likely to continue into the future. Americans may now want to brace themselves for the possibility of a $3/gal national average in the weeks ahead, as demand remains strong as Americans take to the roads. The question going forward is how much demand will continue to recover and rise- will it lead to record summer gasoline demand? We indeed may see some weeks with new records as Americans get in their cars this summer- but the question is how many will do so? That will determine how much higher prices will go,” De Haan added.