Gas prices inch higher in Capital Region

CAPITAL REGION, N.Y. — Average gasoline prices in the area rose 1.1 cents per gallon in the last week, averaging $3.54 a gallon, according to GasBuddy’s survey of 546 stations in Albany.

Prices in Albany are 8.6 cents per gallon lower than a month ago and stand 17.3 cents per gallon lower than a year ago. The national average price of diesel has risen 1.4 cents in the last week and stands at $3.77 per gallon.

According to GasBuddy price reports, the cheapest station in Albany was priced at $3.21 a gallon while the most expensive was $3.75 a gallon, a difference of 54 cents per gallon. The lowest price in the state was $2.84 a gallon while the highest was $4.69 a gallon, a difference of $1.85 a gallon.

The national average price of gasoline rose 5 cents per gallon in the last week, averaging $3.46 a gallon. The national average is down 6 cents per gallon from a month ago and stands 5.4 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.

“As we approach July 4 later this week, motorists have seen the national average price of gasoline inch up ever so slightly for the third straight week,” said Patrick De Haan, head of petroleum analysis at GasBuddy in the release. “While the increases have been fairly tame, with oil continuing to hold above $80 per barrel, we could continue to see the national average climb slightly.

“Other areas that see price cycling saw prices shoot up early in the week, but those areas are now starting to see prices fall back down. For many Americans hitting the road for the July 4 holiday, prices in most areas are very comparable to what we saw last July 4. However, with Hurricane Beryl now formed in the Caribbean, we’re reminded that gas prices could experience some jolts in the second half of the summer should a storm threaten refining capacity in Texas or Louisiana.”