Gas prices fall; ‘the worst is likely behind us’

Gas prices fell last week in the Mid-Hudson Valley, New York state and the nation after a period of steady increases.

Locally, according to GasBuddy.com, average prices Monday morning were $2.87 per gallon in Ulster County (down 2 cents from a week earlier), $3.01 in Dutchess County (down a penny), $2.86 in Greene County (up 3 cents) and also $2.86 in Columbia County (down a penny).

The statewide average Monday was $2.93 per gallon, down 1.8 cents from a week earlier, according to GasBuddy. The national average was $2.85 per gallon, down 3.8 cents from a week earlier.

“Relief at the pump has indeed begun across the country, with a majority of states seeing average prices decline versus a week ago, giving solid evidence the worst is likely behind us,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

DeHaan cautioned, though, that a U.S.-China trade deal “could bring a return to higher prices.” Such a deal “could lead to a second hurrah at the pump,” he said.

“For now, I believe we’re close to seeing gas prices peak in the next few weeks or so in most of the U.S.,” DeHaan said. “... I think most of the country has seen the risk of big price increases melt away.”

New York state’s average gas price Monday was 12.2 cents per gallon higher than a month earlier but 3.9 cents lower than a year ago. The national average Monday was 2.1 cents per gallon higher than a month ago and 1.1 cents higher than a year ago.

Average gasoline prices on May 13 in New York have ranged widely over the last five years: $2.97 per gallon in 2018, $2.49 in 2017, $2.37 in 2016, $2.83 in 2015 and $3.89 in 2014.

For live fuel price averages, go to fuelinsights.gasbuddy.com.