GasBuddy: Albany gas prices continue to fall

ALBANY, N.Y. (NEWS10) — On Monday, February 27, GasBuddy gave a weekly update on Albany gas prices. The Albany-based data comes from GasBuddy’s daily survey of 546 stations in Albany.

Average gasoline prices in Albany have fallen 3.7 cents per gallon in the last week, averaging $3.49/g today, according to GasBuddy’s survey of 546 stations in Albany. Prices in Albany are 9.9 cents per gallon cheaper than a month ago and 32.1 cents per gallon lower than a year ago. 

According to GasBuddy price reports, the cheapest station in Albany was priced at $3.07/g on Sunday, while the most expensive was $3.74/g, a difference of 67.0 cents per gallon. The lowest price in New York on Sunday was $2.85/g while the highest was $4.46/g, a difference of $1.61/g.

The national average price of gasoline has fallen 4.3 cents per gallon in the last week, averaging $3.33/g on Monday, February 27. The national average is down 17.6 cents per gallon from a month ago and stands 26.3 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 gas prices in Albany and the national average going back 10 years:

• February 27, 2022: $3.81/g (U.S. Average: $3.59/g)
• February 27, 2021: $2.74/g (U.S. Average: $2.72/g)
• February 27, 2020: $2.57/g (U.S. Average: $2.44/g)
• February 27, 2019: $2.42/g (U.S. Average: $2.42/g)
• February 27, 2018: $2.62/g (U.S. Average: $2.53/g)
• February 27, 2017: $2.32/g (U.S. Average: $2.29/g)
• February 27, 2016: $1.88/g (U.S. Average: $1.74/g)
• February 27, 2015: $2.47/g (U.S. Average: $2.37/g)
• February 27, 2014: $3.68/g (U.S. Average: $3.43/g)
• February 27, 2013: $3.95/g (U.S. Average: $3.79/g)

Neighboring area and their current gas prices:

• Waterbury- $3.18/g, down 7.4 cents per gallon from last week’s $3.26/g
• Hartford- $3.13/g, down 7.3 cents per gallon from last week’s $3.21/g
• Springfield- $3.17/g, down 3.7 cents per gallon from last week’s $3.21/g

“The national average has resumed its decline after a pause last week as oil and wholesale gasoline prices fell on worrisome inflation figures showing the Fed likely to ramp up rates to slow inflation,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Some nine out of 10 states saw declines over the last week, so the drops are showing up for most across the country, with the exception of the West Coast as the transition to summer blends continues, and in the Great Lakes, where prices cycled last week but have now resumed declining. For the weeks ahead, tradition tells us to expect prices to move up eventually, but that could be at least be partially offset by inflationary data that continues to be hotter than expected, leading to anxiety that the Fed will boost interest rates and cooling the economy and oil demand considerably.”