GasBuddy: Average Albany gas prices drop 1.7 cents

ALBANY, N.Y. (NEWS10) -- Average gas prices in Albany have dropped 1.7 cents per gallon in the last week, averaging $3.58 a gallon according to GasBuddy's survey of 546 stations in Albany. These prices are 4.8 cents higher than a month ago, but 12.8 cents lower than a year ago.

GasBuddy price reports state that the cheapest station in Albany was priced at $3.24 a gallon on Sunday while the most expensive was $3.75 a gallon. The lowest price statewide on Sunday was $2.99 a gallon and the highest was $4.69.

According to GasBuddy, the national average price of gasoline has fallen 1.9 cents per gallon in the last week with an average of $3.47 per gallon on Monday. The national average is up 3.5 cents from a month ago but has dropped 9.9 cents in the last year, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

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

• July 22, 2023: $3.71/g (U.S. Average: $3.57/g)
• July 22, 2022: $4.54/g (U.S. Average: $4.38/g)
• July 22, 2021: $3.13/g (U.S. Average: $3.15/g)
• July 22, 2020: $2.28/g (U.S. Average: $2.19/g)
• July 22, 2019: $2.74/g (U.S. Average: $2.75/g)
• July 22, 2018: $2.87/g (U.S. Average: $2.82/g)
• July 22, 2017: $2.30/g (U.S. Average: $2.28/g)
• July 22, 2016: $2.22/g (U.S. Average: $2.17/g)
• July 22, 2015: $2.81/g (U.S. Average: $2.75/g)
• July 22, 2014: $3.74/g (U.S. Average: $3.56/g)

Neighboring areas and their current gas prices:

• Waterbury - $3.55/g, down 1.5 cents per gallon from last week's $3.56/g.
• Hartford - $3.52/g, down 3.2 cents per gallon from last week's $3.55/g.
• Springfield - $3.40/g, down 1.8 cents per gallon from last week's $3.42/g.

"Most of the country has seen a reprieve from rising gasoline prices, thanks to weaker-than-expected gasoline demand, building supplies and a quiet period in the tropics," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While a good portion of the nation saw average gas prices decline, severe weather completely knocked out power to a major refinery outside Chicago early last week, immediately impacting gasoline supplies to Illinois, Wisconsin, Indiana and Michigan, and pushing prices up considerably. We've often said how critical refineries are, and with a long power outage, we're seeing the impact very quickly, but relief will eventually arrive. For now, as we approach the end of summer vacations, I'm hopeful gas prices will continue to edge slightly lower in the week ahead."