Small rise in Albany gas prices, November 8

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ALBANY, N.Y. (NEWS10) – On Monday, November 8, 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 1.1 cents per gallon in the past week, averaging $3.51/g Monday, November 8. Gas prices in Albany are 21.8 cents per gallon higher than a month ago and stand $1.30/g higher than a year ago.

The cheapest station in Albany is priced at $3.29/g Monday, November 8 while the most expensive is $3.65/g, a difference of 36.0 cents per gallon. The lowest price in the state is $3.05/g while the highest is $4.19/g, a difference of $1.14/g.

The national average price of gasoline has risen 1.8 cents per gallon in the last week, averaging $3.41/g. The national average is up 15.1 cents per gallon from a month ago and stands $1.31/g higher than a year ago.

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

  • November 8, 2020: $2.21/g (U.S. Average: $2.09/g)
  • November 8, 2019: $2.62/g (U.S. Average: $2.63/g)
  • November 8, 2018: $2.79/g (U.S. Average: $2.72/g)
  • November 8, 2017: $2.62/g (U.S. Average: $2.56/g)
  • November 8, 2016: $2.30/g (U.S. Average: $2.20/g)
  • November 8, 2015: $2.26/g (U.S. Average: $2.22/g)
  • November 8, 2014: $3.17/g (U.S. Average: $2.93/g)
  • November 8, 2013: $3.46/g (U.S. Average: $3.20/g)
  • November 8, 2012: $3.81/g (U.S. Average: $3.46/g)
  • November 8, 2011: $3.61/g (U.S. Average: $3.41/g)

Neighboring areas and their current gas prices:

  • Waterbury- $3.46/g, up 1.1 cents per gallon from last week’s $3.45/g.
  • Hartford- $3.48/g, up 0.7 cents per gallon from last week’s $3.48/g.
  • Springfield- $3.34/g, up 3.6 cents per gallon from last week’s $3.30/g.

“Last week saw oil prices briefly fall back under $80 for the first time in weeks. While it wasn’t enough to provide much relief last week, we should see small declines this week in a majority of the country, thanks to the corresponding drop in wholesale gasoline prices,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “At OPEC’s monthly meeting last week, the cartel held firm to the small increases they agreed to in July, raising November production by 400,000 barrels per day. With President Biden still mulling over options to help push gas prices down, we could continue to see some volatility in oil prices. I don’t immediately see a large decline or surge coming in the run up to Thanksgiving, but U.S. gasoline demand does remain strong. Levels are currently rivaling September demand, so we know high prices aren’t significantly curbing consumption.”

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

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