ALBANY – Thanks in large part to Hurricane Harvey, a gallon of regular has risen an average of 1.6 cents at outlets across the Capital District, according to GasBuddy, a website that uses real time crowd sourcing to monitor gas prices across the country.
On Aug. 27, the daily survey by GasBuddy monitored 546 outlets in and around Albany and found that an average of regular is $2.34, which compares with the national average of $2.36 per gallon. Across the nation, gas prices increase 3.9 cents per gallon last week.
On Aug. 27, a gallon of regular was 11.8 cents higher than a year ago and 2.8 cents higher than a month ago, according to GasBuddy.
The national average increased 6 cents per gallon during the last month and stands 14.4 cents per gallon higher than a year ago.
According to GasBuddy, gas prices on Aug. 27 in Albany have ranged widely over the last five years from $3.88 in 2012 to $2.22 in 2016.
“Gas prices are up in many places and motorists should be gearing up for more in the coming weeks, thanks to Hurricane Harvey inundating significant refineries along the Texas coastline, leading to closures and tilting the delicate balance of supply and demand,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Prices will likely rise nearly country wide heading into Labor Day, from rural towns in the Rockies to major cities in the Midwest and West Coast- nearly everyone will feel a bit of a pinch at the pump from Harvey.”
He said the impact could linger for weeks depending on how long it takes Texas refiners to return to normal operations. Or, he said, it could worsen if Harvey continues to wreak havoc on Texas.