Huge rise in Albany gas prices on Monday, October 11 report

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ALBANY, N.Y. (NEWS10) – On Monday, October 11, 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 8.9 cents per gallon in the past week, averaging $3.32/g Monday, October 11. Gas prices in Albany are 8.3 cents per gallon higher than a month ago and stand $1.06/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Albany is priced at $3.13/g Monday, October 11 while the most expensive is $3.45/g, a difference of 32.0 cents per gallon. The lowest price in the state today is $2.55/g while the highest is $3.87/g, a difference of $1.32/g.

The national average price of gasoline has risen 5.2 cents per gallon in the last week, averaging $3.25/g Monday, October 11. The national average is up 7.5 cents per gallon from a month ago and stands $1.08/g higher than a year ago.

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

  • October 11, 2020: $2.26/g (U.S. Average: $2.16/g)
  • October 11, 2019: $2.63/g (U.S. Average: $2.64/g)
  • October 11, 2018: $2.88/g (U.S. Average: $2.90/g)
  • October 11, 2017: $2.61/g (U.S. Average: $2.47/g)
  • October 11, 2016: $2.27/g (U.S. Average: $2.25/g)
  • October 11, 2015: $2.29/g (U.S. Average: $2.31/g)
  • October 11, 2014: $3.43/g (U.S. Average: $3.21/g)
  • October 11, 2013: $3.56/g (U.S. Average: $3.33/g)
  • October 11, 2012: $4.05/g (U.S. Average: $3.81/g)
  • October 11, 2011: $3.58/g (U.S. Average: $3.39/g)

Neighboring areas and their current gas prices:

  • Waterbury- $3.23/g, up 8.5 cents per gallon from last week’s $3.15/g.
  • Hartford- $3.23/g, up 9.7 cents per gallon from last week’s $3.14/g.
  • Springfield- $3.10/g, up 6.9 cents per gallon from last week’s $3.04/g.

“Last week saw oil prices advance to their highest in seven years, with a barrel of West Texas Intermediate crude oil surpassing the critical $80 per barrel level. The nation’s gas prices were also pushed to their highest since 2014, all on OPEC’s decision not to raise production more than it already agreed to in July,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The OPEC decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago. The problems continue to relate to a surge in demand as the global economy recovers, combined with deep cuts to production from early in the pandemic. If Americans can’t slow their appetite for fuels, we’ve got no place for prices to go but up.”

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

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