ALBANY, N.Y. (NEWS10) — As refinery outages push gas prices upward across the nation, Capital Region residents can expect to shell out a little extra cash at the pump. The average price tag on a gallon of gas in Albany rose by 3.3 cents in the last week, reaching $3.41 Monday morning.
That increase pales in comparison to national numbers, which spiked 8.2 cents per gallon last week. Despite the difference, the U.S. average sat near $3.25 on Monday—still 16 cents lower than Capital Region prices.
According to GasBuddy price reports, the cheapest gas station in the region was priced at $2.64 on Sunday. On the other hand, the most expensive station listed a gallon of regular gas for $3.69.
“Last week, the rise in gasoline prices continued, still due to previous refinery outages caused by the cold weather the week of Christmas. However, I’m optimistic that as refiners get back online, we could see the increases slow down as we head into the time of year when gasoline demand is at its weakest,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While gasoline prices have rallied, average diesel prices continue to drift lower, which certainly bodes well for the overall economy. As long as refiners can get back online soon from previous cold-weather outages, we could see supply start to recover at the same time demand is weak, which could bring gas prices down again. The window of opportunity, however, is shrinking, and by late February or early March, we’ll likely kick off the seasonal rise in gasoline prices.”
Historical gas prices in Albany going back 10 years:
- January 9, 2022: $3.44/g (U.S. Average: $3.29/g)
- January 9, 2021: $2.35/g (U.S. Average: $2.32/g)
- January 9, 2020: $2.67/g (U.S. Average: $2.60/g)
- January 9, 2019: $2.45/g (U.S. Average: $2.24/g)
- January 9, 2018: $2.58/g (U.S. Average: $2.49/g)
- January 9, 2017: $2.46/g (U.S. Average: $2.36/g)
- January 9, 2016: $2.14/g (U.S. Average: $1.97/g)
- January 9, 2015: $2.63/g (U.S. Average: $2.16/g)
- January 9, 2014: $3.63/g (U.S. Average: $3.30/g)
- January 9, 2013: $3.64/g (U.S. Average: $3.30/g)