Gas prices continue to climb in Capital Region
CAPITAL REGION, N.Y. >> Average gasoline prices in the area rose 5.8 cents per gallon in the last week, averaging $3.57 a gallon, according to GasBuddy’s survey of 546 stations in Albany.
Prices are 19.5 cents per gallon higher than a month ago and stand 4.6 cents per gallon lower than a year ago. The national average price of diesel is down 1.2 cents in the last week and stands at $4.01 per gallon.
According to GasBuddy price reports, the cheapest station in Albany was priced at $3.29 a gallon while the most expensive was $3.86 a gallon, a difference of 57 cents per gallon. The lowest price in the state yesterday was $2.98 a gallon while the highest was $4.39 a gallon, a difference of $1.41 a gallon.
The national average price of gasoline has risen 3.1 cents per gallon in the last week, averaging $3.60 a gallon. The national average is up 14.2 cents per gallon from a month ago and stands 5.5 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.
“With Iran’s attack on Israel over the weekend, the stakes couldn’t have been higher for a major potential impact on oil and gasoline prices. With the attacks largely thrawted and mostly unsuccessful, and with Iran signaling that their attack will be the end of their response, the risk to crude oil has diminished, and the situation is thankfully likely to de-escalate going forward,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in the release.
“If Israel, which has promised to respond with further attacks, indeed does press on, it could certainly still push oil prices higher. However, motorists can expect other factors to influence what they’re paying at the pump. Motorists in the mid-Atlantic and Northeastern U.S. will soon see a spike in prices as they make the leap to summer gasoline — as much as 20-50 cents per gallon higher in nearly a dozen states.
“On the West Coast, price increases should finally slow, but the national average will likely climb again in the coming week.”