Albany gas price update

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rising gas prices_147712

rising gas prices_147712

ALBANY, N.Y. (NEWS10) – According to GasBuddy’s daily survey of 546 stations in Albany, the price of gas has risen 2.9 cents a gallon in the past week and the average price of gas is $3.13/g. Gas prices in Albany are 8.6 cents per gallon higher than a month ago and stand 86.5 cents per gallon higher than a year ago.

The cheapest station in Albany is priced at $2.85/g today while the most expensive is $3.29/g, a difference of 44 cents per gallon. The lowest price in the state today is $2.83/g while the highest is $3.89/g, a difference of $1.06/g.

Past ten years of Albany and national gas price averages on July 12:

  • July 12, 2020: $2.27/g (U.S. Average: $2.19/g)
  • July 12, 2019: $2.74/g (U.S. Average: $2.79/g)
  • July 12, 2018: $2.89/g (U.S. Average: $2.89/g)
  • July 12, 2017: $2.27/g (U.S. Average: $2.25/g)
  • July 12, 2016: $2.26/g (U.S. Average: $2.21/g)
  • July 12, 2015: $2.84/g (U.S. Average: $2.76/g)
  • July 12, 2014: $3.78/g (U.S. Average: $3.62/g)
  • July 12, 2013: $3.66/g (U.S. Average: $3.56/g)
  • July 12, 2012: $3.54/g (U.S. Average: $3.38/g)
  • July 12, 2011: $3.78/g (U.S. Average: $3.63/g)

“While the national average has seen a slight rise over the last week, we may see some stabilization coming to the pump as oil prices hold just under their 2021 peak from last week,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Without additional crude oil supply coming online in the weeks ahead, we could see oil test $80 per barrel in the next couple of weeks. However, with U.S. gasoline demand falling slightly last week, we may have already seen peak consumption with the July 4 holiday. While the jury isn’t quite in on that just yet, we’re potentially only 4-6 weeks away from gas prices beginning a seasonal decline that we’re likely all eagerly awaiting.”

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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