Gas prices dip, could be driven lower by China virus worries

Average gasoline prices in the Mid-Hudson Valley, New York state and the nation declined over the past week, GasBuddy.com said Monday.

Local averages Monday morning were $2.58 per gallon in Ulster County, down 7 cents from a week earlier; $2.71 in Dutchess County, down 2 cents; and $2.70 in Greene County, down 3 cents.

The statewide average Monday was $2.67 per gallon, down 3.3 cents from a week earlier, GasBuddy reported. The national average fell 4.6 cents per gallon, to $2.45.

“Oil prices continue to sag on worries over the spread of the coronavirus, blowing the door wide open for a continued slump at the pump,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Nearly 5,000 stations are currently selling gasoline under $2 per gallon, a critical psychological level, while some 17 states have at least one gas station under the mark.

“For most, there’s no signs of the slump slowing, especially with fears of the spread of the Chinese-originating virus continuing to grow,” DeHaan added. “Motorists need not be in a rush to fill up again, and with prices plummeting, I would urge them to be mindful that some stations are passing the drops on much faster and to shop around.”

New York state’s average gasoline price Monday was 6.3 cents per gallon lower than a month earlier but 16.2 cents higher than a year ago. The national average Monday was 13.3 cents per gallon lower than a month ago but 19.9 cents higher than a year ago.

Over the past five years, the average gasoline price on Feb. 3 in New York state has been: $2.51 per gallon in 2019, $2.77 in 2018, $2.48 in 2017, $2.04 in 2016 and $2.37 in 2015.

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