ALBANY, N.Y. (NEWS10) – On Monday, July 26, GasBuddy reported Albany’s weekly gas price update.
The price of gas in Albany has fallen 0.6 cents per gallon in the past week, averaging $3.13 on Monday, aggregated from 546 stations. Gas prices are 4 cents per gallon higher than a month ago and 85.4 cents per gallon higher than a year ago.
The cheapest station in Albany is priced at $2.93 per gallon while the most expensive is $3.29. The lowest price in the state is $2.84 and the highest is $3.55.
The national average price of gas has fallen 2.9 cents per gallon in the last week, according to GasBuddy, averaging $3.14 per gallon on Monday. The national average is up 4.7 cents per gallon from a month ago and 97.2 cents per gallon higher than a year ago.
In the past 10 years, the highest gas prices in the Albany area for July 26 was $3.85 per gallon in 2011.
“With oil prices struggling under the weight of a rise in new Covid cases thanks to the Delta variant and OPEC’s increase in oil production, average gas prices in most states finally drifted lower,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “However, we aren’t yet in the clear—U.S. gasoline demand last week surged to a new 2021 high, besting the week prior to the July 4 holiday. This shows that motorists aren’t slowing their appetite for hitting the road just yet, and that could further boost prices should demand remain hot. For now, motorists should enjoy the perhaps brief respite at the pump and buckle up for what might be a bumpy finish to summer.”
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that gas supply is abundant, which could keep prices from spiking further.
Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $4.39 per gallon. The lowest average is in Baton Rouge, Louisiana, at $2.71 per gallon.
The average price of diesel in the Lundberg survey taken Friday was $3.31 a gallon, up 2 cents from two weeks earlier.