Gas prices continue to climb in area
Average gasoline prices in the area rose 0.8 cents per gallon in the last week, averaging $3.31 a gallon, according to GasBuddy’s survey of 546 stations in Albany.
Prices in Albany are 13.4 cents per gallon higher than a month ago and stand 17.4 cents per gallon lower than a year ago. The national average price of diesel has fallen 2.6 cents in the last week and stands at $4.06 per gallon.
According to GasBuddy price reports, the cheapest station in Albany was priced at $3.04 a gallon while the most expensive was $3.69 a gallon, a difference of 65 cents per gallon. The lowest price in the state yesterday was $2.72 a gallon while the highest was $4.24 a gallon, a difference of $1.52 a gallon.
The national average price of gasoline has fallen 1.9 cents per gallon in the last week, averaging $3.24 a gallon. The national average is up 13.3 cents per gallon from a month ago and stands 9.2 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 have finally seen a bit of a break in the recent rise in the national average, with more states seeing drops than increases in the last week. While the pause has certainly been nice, this is more like a rain delay than it is a 7th inning stretch,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in the release.
“It’s likely only a matter of time before we see the rise re-engage and prices start to head higher, but we’ll take any break that we can. Oil prices have shown some signs of struggling last week after coming within arms reach of $80 per barrel before falling closer to $76, but all eyes are on refiners as utilization remained seasonally weak, around 80% of capacity, meaning there’s less gasoline and diesel being produced.
“That’s why it’s just a matter of time before prices collide with rising demand and start to accelerate again.”