GasBuddy: Albany gas prices drop 2.4 cents

ALBANY, N.Y. (NEWS10) -- Average gasoline prices in Albany have fallen 2.4 cents per gallon in the last week, averaging $3.48/g today, according to GasBuddy's survey of 546 stations in Albany. Prices in Albany are 10.1 cents per gallon lower than a month ago and 48 cents per gallon lower than a year ago. The national average cost of diesel has declined 2.6 cents in the last week and stands at $3.69 per gallon- the lowest level in 940 days.

According to GasBuddy price reports, the cheapest station in Albany was priced at $3.09/g yesterday while the most expensive was $3.73/g, a difference of 64.0 cents per gallon. The lowest price in the state yesterday was $2.93/g while the highest was $4.69/g, a difference of $1.76/g.

The national average price of gasoline has fallen 4.2 cents per gallon in the last week, averaging $3.37/g today. The national average is down 11.4 cents per gallon from a month ago and stands 47.8 cents per gallon lower than a year ago, 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:

• August 19, 2023: $3.96/g (U.S. Average: $3.84/g)
• August 19, 2022: $4.29/g (U.S. Average: $3.89/g)
• August 19, 2021: $3.15/g (U.S. Average: $3.16/g)
• August 19, 2020: $2.26/g (U.S. Average: $2.17/g)
• August 19, 2019: $2.69/g (U.S. Average: $2.60/g)
• August 19, 2018: $2.86/g (U.S. Average: $2.82/g)
• August 19, 2017: $2.33/g (U.S. Average: $2.32/g)
• August 19, 2016: $2.16/g (U.S. Average: $2.15/g)
• August 19, 2015: $2.62/g (U.S. Average: $2.66/g)
• August 19, 2014: $3.63/g (U.S. Average: $3.44/g)

Neighboring areas and their current gas prices:

• Waterbury- $3.47/g, down 2.0 cents per gallon from last week's $3.49/g.
• Hartford- $3.39/g, down 1.6 cents per gallon from last week's $3.41/g.
• Springfield- $3.28/g, down 3.6 cents per gallon from last week's $3.31/g.

"Gasoline and diesel prices continue to trail off across much of the country as summer demand fades away. Lower demand in other oil-consuming nations is also helping to lead the downward pressure on pump prices as we approach Labor Day," said Patrick De Haan, head of petroleum analysis at GasBuddy. "With little new action in the Middle East to rile up prices and Hurricane Ernesto remaining far out at sea, it looks like the downward trend could continue into the week ahead. As more schools begin to resume, gasoline demand will likely continue to ease. With the transition to winter gasoline less than a month away for the majority of the nation, gas prices will soon begin their seasonal cooling off— just as temperatures soon will as well."