ALBANY, N.Y. (NEWS10) — Just days after pivotal midterm elections in the United States, price-gauging tech company GasBuddy on Monday reported that retail gasoline prices in the Capital Region are flirting once again with $4 per gallon on average. After a four-cent increase in the past week, it’ll cost Albany area commuters $3.98 per gallon to fill their tanks. That’s a 26.6-cent spike from a month ago, and nearly 46 cents more expensive than in November 2021.
According to GasBuddy price reports, the cheapest station in Albany was priced at $3.49 per gallon on Sunday while the most expensive was $4.29, a difference of 80 cents per gallon. The lowest price in the state was $3.25 while the highest was $4.89, a glaring difference of $1.64 per gallon.
The national average price for a gallon of regular gas has fallen 2.6 cents in the last week, reaching an average price of $3.76 per gallon on Monday. The national average is down 14.3 cents from a month ago and stands 36.3 cents higher than a year ago.
“After rising the week prior, the national average has changed directions again, posting a modest weekly decline with prices dropping in a majority of states. The decline has been partly driven by Great Lakes states, where prices fell by 15-25 cents per gallon due to an improvement in the refining situation, and also oil prices, which fell back under $90 per barrel last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With oil prices remaining volatile, the outlook is murky, but I’m hopeful in the lead-up to Thanksgiving we’ll see prices declining in more states, while others may not be quite as lucky. Regardless, we’ll still be seeing the most expensive Thanksgiving Day prices on record.”