Massive rise in Albany gas prices finally slows, November 1

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ALBANY, N.Y. (NEWS10) – On Monday, November 1, 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 1.6 cents per gallon in the past week, averaging $3.50/g on November 1. Gas prices in Albany are 27.5 cents per gallon higher than a month ago and stand $1.28/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Albany is priced at $3.29/g on November 1, while the most expensive is $3.65/g, a difference of 36.0 cents per gallon. The lowest price in the state is $3.17/g while the highest is $4.09/g, a difference of 92.0 cents per gallon.

The national average price of gasoline has risen 0.6 cents per gallon in the last week, averaging $3.38/g on November 1. The national average is up 19.5 cents per gallon from a month ago and stands at $1.26/g higher than a year ago.

“Gas prices will likely keep rising as long as oil prices are above $80 per barrel,” AAA says. “This morning, oil prices are $82 to $83 per barrel, which is a tad lower than one week ago.”

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

  • November 1, 2020: $2.22/g (U.S. Average: $2.12/g)
  • November 1, 2019: $2.63/g (U.S. Average: $2.61/g)
  • November 1, 2018: $2.82/g (U.S. Average: $2.76/g)
  • November 1, 2017: $2.58/g (U.S. Average: $2.50/g)
  • November 1, 2016: $2.30/g (U.S. Average: $2.20/g)
  • November 1, 2015: $2.22/g (U.S. Average: $2.18/g)
  • November 1, 2014: $3.26/g (U.S. Average: $2.98/g)
  • November 1, 2013: $3.50/g (U.S. Average: $3.26/g)
  • November 1, 2012: $3.84/g (U.S. Average: $3.50/g)
  • November 1, 2011: $3.63/g (U.S. Average: $3.43/g)

Neighboring areas and their current gas prices:

  • Batavia: $3.46
  • Buffalo: $3.47
  • Hartford: $3.46
  • Ithaca: $3.51
  • Rochester: $3.52
  • Rome: $3.54
  • Springfield: $3.32
  • Syracuse: $3.50
  • Waterbury: $3.42
  • Watertown: $3.55

“The jump in gas prices that started nearly a month ago is finally running out of steam for the time being, as oil prices have stabilized. Yet, some areas of California are still at or near all-time record highs for prices,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “While California’s high prices will not become a nationwide norm, prices there will likely remain elevated due to refinery issues amidst the surge of rain and other refinery kinks. For most motorists, gas prices are likely to greatly slow their recent ascent, and we could even see some small declines in the week ahead. OPEC is planning to meet next week, and while it doesn’t seem likely there will be any boost in oil output, its meeting and comments could easily drive the market up or down. The odds remain high that gas prices will remain near today’s elevated levels going into the holidays, barring additional OPEC supply.”

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

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