Analyst: Gasoline prices on the rise
ALBANY, N.Y. >> Albany gas prices have risen 5.1 cents per gallon in the past week, averaging $2.49 per gallon, according to GasBuddy’s daily survey of 546 stations.
Gas prices in Albany are 11.1 cents per gallon higher than a month ago, yet stand 10.8 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Albany is priced at $2.32 per gallon while the most expensive is $2.65 per gallon, a difference of 33.0 cents per gallon. The lowest price in the state today is $2.17 per gallon while the highest is $3.89 per gallon, a difference of $1.72 per gallon. The cheapest price in the entire country today stands at $1.59 per gallon while the most expensive is $4.99 per gallon, a difference of $3.40 per gallon.
The national average price of gasoline has risen 4.9 cents per gallon in the last week, averaging $2.48 per gallon. The national average is up 19.6 cents per gallon from a month ago, yet stands
3.4 cents per gallon lower than a year ago.
Historical gasoline prices in Albany and the national average going back a decade:
• March 11, 2018: $2.60/g (U.S. Average: $2.51/g)
• March 11, 2017: $2.29/g (U.S. Average: $2.30/g)
• March 11, 2016: $1.94/g (U.S. Average: $1.89/g)
• March 11, 2015: $2.59/g (U.S. Average: $2.45/g)
• March 11, 2014: $3.70/g (U.S. Average: $3.49/g)
• March 11, 2013: $3.88/g (U.S. Average: $3.69/g)
• March 11, 2012: $3.93/g (U.S. Average: $3.80/g)
• March 11, 2011: $3.71/g (U.S. Average: $3.54/g)
• March 11, 2010: $2.90/g (U.S. Average: $2.76/g)
• March 11, 2009: $2.04/g (U.S. Average: $1.92/g)
“As predicted, gas prices advanced across much of the country for the fourth straight week even as oil prices held relatively stable at $56 per barrel. The reason for the continued disconnect remains similar to weeks past: refinery maintenance is ongoing and eating into supply and production levels, while more expensive, cleaner-burning gasoline is now the predominant fuel being produced. This has pushed up wholesale gas prices even as oil remains mostly calm,” Patrick DeHaan, head of petroleum analysis for GasBuddy stated in a news release.
“Expect rising prices to knock out the 135 remaining stations in the nation priced at $1.99 per gallon or less, while the number of stations over $3 per gallon will likely grow, mainly out West as the pinch at the pump grows in those areas- the first in the nation to fully move to summer gasoline in the next two weeks,” DeHaan concluded.