Albany gas prices rise again for third straight week

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ALBANY, N.Y. (NEWS10) — On Monday, October 25, GasBuddy reported a weekly update on Albany gas prices. All Albany-based data is from GasBuddy’s daily survey of 546 stations in Albany.

Albany gas prices have risen 8.1 cents per gallon in the past week, averaging $3.48 per gallon. Gas prices in Albany are 25.5 cents per gallon higher than a month ago and stand $1.25 per gallon higher than a year ago.

The cheapest station in Albany is priced at $3.19 on Monday, while the most expensive is $3.59 per gallon, a difference of 40 cents. The lowest price in the state is $3.05, while the highest is $4.39, a difference of $1.34.

The national average price of gasoline has risen 3.8 cents per gallon in the last week, averaging $3.33. The national average is up 17.1 cents per gallon from a month ago and stands $1.21 higher than a year ago. Meanwhile, according to AAA, New York gas prices are up by an entire dime in the past week. “With the U.S. economy recovering from the depths of the pandemic, demand for gas has gone up, but supply is tight,” AAA says. “Higher demand coupled with a decline in stocks, alongside elevated crude prices, has put upward market pressure on pump prices.”

Historical gas prices in Albany and the national average going back 10 years:

  • October 25, 2020: $2.24/g (U.S. Average: $2.14/g)
  • October 25, 2019: $2.61/g (U.S. Average: $2.61/g)
  • October 25, 2018: $2.84/g (U.S. Average: $2.83/g)
  • October 25, 2017: $2.58/g (U.S. Average: $2.45/g)
  • October 25, 2016: $2.30/g (U.S. Average: $2.22/g)
  • October 25, 2015: $2.24/g (U.S. Average: $2.20/g)
  • October 25, 2014: $3.32/g (U.S. Average: $3.05/g)
  • October 25, 2013: $3.52/g (U.S. Average: $3.30/g)
  • October 25, 2012: $3.90/g (U.S. Average: $3.59/g)
  • October 25, 2011: $3.65/g (U.S. Average: $3.44/g)

Neighboring areas and their current gas prices:

  • Batavia, New York – $3.45, up 7 cents
  • Buffalo, New York – $3.45, up 9 cents
  • Hartford, Connecticut – $3.44, up 6.5 cents
  • Ithaca, New York – $3.50, up 7 cents
  • Rochester, New York – $3.50, up 8 cents
  • Rome, New York – $3.51, up 7 cents
  • Springfield, Massachusetts – $3.29, up 6.7 cents
  • Syracuse, New York – $3.48, up 9 cents
  • Waterbury, Vermont – $3.36, up 1.4 cents
  • Watertown, New York – $3.52 up 10 cents

“Gas prices continued to soar in a majority of the nation over the last week as oil’s meteoric rise pulls gasoline and other refined product prices higher. But, there may be some light at the end of the tunnel,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The sharp rise we’ve seen over the last three weeks should begin slowing down soon, barring another jump in the price of oil. This is because gasoline prices have now largely caught up to the jump in oil that started nearly a month ago. This isn’t an all-clear for the future, however, as oil prices could rise again at any time. But for now, oil has held around $83 per barrel, and without a further climb, gas price increases should slow down soon in the bulk of the nation.”

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

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