Gas Prices Rise in Albany as National Average Holds Steady

Gas prices in Albany have surged by 3.9 cents per gallon in the past week, reaching an average of $3.50/g, according to a recent survey conducted by GasBuddy across 546 stations in the region. This increase represents a 16.4 cents per gallon rise from last month, and a 1.8 cents per gallon hike compared to a year ago. Meanwhile, the national average diesel price has dropped by 2.9 cents in the same period, settling at $3.99 per gallon.

According to GasBuddy’s data, the lowest gasoline price recorded in Albany was at $3.19/g, whereas the highest price stood at $3.69/g on Sunday, marking a significant price gap of 50.0 cents per gallon. Statewide, the lowest gasoline rate was noted at $2.95/g, while the highest soared to $4.39/g, reflecting a $1.44/g disparity.

The national average gasoline price has remained steady over the past week, holding at $3.51/g on Monday. This figure has risen by 16.1 cents per gallon from the previous month and is just 0.9 cents per gallon higher than this time last year, based on data compiled from over 11 million weekly price reports by GasBuddy across 150,000 gas stations nationwide.

In comparison to historical gas prices from the past decade, April 1, 2023, saw an average of $3.48/g nationally, with the previous year and current year comparable at $4.26/g and $3.50/g respectively. Neighboring areas including Waterbury, Hartford, and Springfield have recorded gasoline prices at $3.46/g, $3.40/g, and $3.27/g, showing varying increases per gallon from the previous week.

Patrick De Haan, the head of petroleum analysis at GasBuddy, commented on the recent trends, stating that after several weeks of notable price hikes, the national average has stabilized around the mid-$3.50s. Although demand typically exerts upward pressure on prices, recent observations suggest a short-term peak nearing. He cautioned that regions like the Mid-Atlantic and Northeast may face summer gasoline price transitions in the coming weeks, potentially causing perturbations for motorists.