Albany gas prices fall one cent, diesel still rising

ALBANY, N.Y. (NEWS10) – The price tag on a gallon of gas in Albany has decreased by just over one cent on average since June 13, reaching $4.95 Monday morning. Prices are seven cents per gallon higher than they stood in May and about $1.88 higher than a year ago, in June 2021. The price of diesel has risen around two-and-a-half cents nationally since June 13, averaging $5.80 per gallon Monday.

According to GasBuddy price reports, the cheapest station in Albany was priced at $4.63 a gallon on Sunday, while the most expensive sat at $5.32 per gallon. That’s a difference of 69 cents per gallon. The cheapest in New York State Sunday was $4.52 per gallon while the highest was $6.19, a difference of $1.67.

On the national scale, gas prices finally took a dip in the time between June 13 and this Monday morning. According to GasBuddy, the national average has fallen four-point-two cents per gallon in that time, now standing at $4.97 per gallon.

“Finally some relief! For the first time in nine weeks, gasoline prices have fallen, following a broad sell-off in oil markets last week, pushing the national average back under the $5 level with most states seeing relief at the pump,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “I’m hopeful the trend may continue this week, especially as concerns appear to be mounting that we may be on the cusp of an economic slowdown, putting downward pressure on oil. But the coast isn’t yet entirely clear. We could see the national average fall another 15 to 30 cents, if we’re lucky, by the time fireworks are flying, barring any unexpected shutdowns at a time when the market is extremely sensitive to such.”

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