What determines Capital Region gas prices?
ALBANY, N.Y. (NEWS10) -- Gas prices have been steadily dropping in the Capital Region over the past few weeks. On Friday, the cheapest gas in the Albany area was $2.93 per gallon, according to GasBuddy.
According to GasBuddy’s survey of 546 stations in the Capital Region, the average price of gas is currently around $3.30 per gallon. That's about 19.5 cents lower than a month ago and 61.9 cents lower than a year ago.
Even though gas in some towns has dropped below $3 per gallon, the town next door could have stations where gas is up to 30 cents more per gallon. For example, gas in Ballston Spa is around $2.98, while gas in Malta is $3.27 and gas in Ballston Lake is $3.35.
Why is there such a difference in gas prices around the Capital Region?
According to Patrick De Haan, Head of Petroleum Analysis for GasBuddy, there are a lot of factors that affect gas prices around the United States. Overall, he said gas prices are influenced by crude oil prices, refining process costs, distribution expenses, station operation charges, and taxes.
In the Capital Region, De Haan said gas stations in the area may have various level of competition. "Stations all have different agendas when it comes how to price fuel," De Haan told NEWS10. "It sounds like one town has a more aggressive station lowering prices faster. Perhaps they sell more gasoline and get access to lower prices faster than other retail outlets."
Here are the Albany area stations which currently have the cheapest gas, according to GasBuddy.
- $2.93 at Runway Express, 1402 Saratoga Road in Ballston Spa
- $2.94 at Valero, 1324 Saratoga Road in Ballston Spa
- $2.94 at USA Gasoline, 991 Route 67 in Ballston Spa
- $2.95 at Sunoco, 230 Church Avenue in Ballston Spa
- $2.96 at CITGO, 184 Sacandaga Road in Scotia
- $2.98 at CITGO, 253 Milton Avenue in Ballston Spa
- $2.99 at Mobil, 32 Mohawk Avenue in Scotia
- $2.99 at Cumberland Farms, 222 Mohawk Avenue in Scotia
- $2.99 at Stewart's Shops, 204 Mohawk Avenue in Scotia
- $3.03 at Alltown Fresh, 1410 Erie Boulevard in Schenectady
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