Albany gas prices drop 7 cents in the last week

ALBANY, N.Y. (NEWS10) -- Gas prices in the Albany area have fallen 7 cents over the past week, according to GasBuddy. The average price of gas in the Capital Region is now $3.76 per gallon.

Prices in the Albany area are 15.5 cents per gallon lower than a month ago and 6.1 cents per gallon lower than a year ago. According to GasBuddy, the cheapest station in Albany was priced at $3.39 per gallon while the most expensive was $4.04 per gallon. The lowest price in New York State on Sunday was $2.87 per gallon while the highest was $4.39 per gallon.

The national price of gas has fallen 11.3 cents in the past week for an average of $3.55 per gallon. The national average is down 29.9 cents per gallon from a month ago and is 30.9 cents per gallon lower than a year ago.

Historical gasoline prices in Albany and the national average

• October 16, 2022: $3.70/g (U.S. Average: $3.86/g)
• October 16, 2021: $3.38/g (U.S. Average: $3.30/g)
• October 16, 2020: $2.25/g (U.S. Average: $2.16/g)
• October 16, 2019: $2.62/g (U.S. Average: $2.66/g)
• October 16, 2018: $2.86/g (U.S. Average: $2.87/g)
• October 16, 2017: $2.60/g (U.S. Average: $2.45/g)
• October 16, 2016: $2.27/g (U.S. Average: $2.23/g)
• October 16, 2015: $2.28/g (U.S. Average: $2.27/g)
• October 16, 2014: $3.40/g (U.S. Average: $3.15/g)
• October 16, 2013: $3.55/g (U.S. Average: $3.35/g)

"The downward momentum has indeed gained steam, with the national average declining over the last week with again virtually every village, town, city, region, and state seeing gasoline prices fall - with the added bonus that diesel prices have also declined. While the price of oil jumped some 5% last week, I remain steadfast that additional declines are coming to gasoline prices the way the situation stands now, but remain cautious that this depends on actions that are not foreseeable, mainly the conflict in the Middle East," said Patrick De Haan, head of petroleum analysis at GasBuddy.