2.02.2015

Gas price update

February 2- Average retail gasoline prices in Albany have fallen 4.5 cents per gallon in the past week, averaging $2.36/g yesterday, according to GasBuddy's daily survey of 546 gas outlets in Albany. This compares with the national average that has increased 2.7 cents per gallon in the last week to $2.05/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Albany during the past week, prices yesterday were 120.8 cents per gallon lower than the same day one year ago and are 34.4 cents per gallon lower than a month ago. The national average has decreased 15.7 cents per gallon during the last month and stands 122.7 cents per gallon lower than this day one year ago.

“The four-month slide in gasoline prices has indeed come to a halt. A reduction in refinery output has been matched in recent weeks by sharp increases in wholesale gasoline prices," said Gregg Laskoski, senior petroleum analyst with GasBuddy. “Since Jan. 7 through Friday(Jan 30) wholesale prices on average are up 20 cents per gallon so there's no doubt now that the first-quarter climb is under way and is already being reflected in rising prices at the pump."

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