Falling mercury in Texas leads to higher gas prices elsewhere | Local News

Jessica Wong

Average gasoline prices shot higher last week in the Mid-Hudson Valley, New York state and the nation, in part because of the impact last week’s deep freeze in Texas had on refineries, according to GasBuddy.com. Local averages Monday morning, according to GasBuddy, were $2.63 in Ulster County, up 6 cents from […]

Average gasoline prices shot higher last week in the Mid-Hudson Valley, New York state and the nation, in part because of the impact last week’s deep freeze in Texas had on refineries, according to GasBuddy.com.

Local averages Monday morning, according to GasBuddy, were $2.63 in Ulster County, up 6 cents from a week earlier; $2.66 in Dutchess County, up 7 cents; $2.66 in Greene County, up 8 cents; and $2.63 in Columbia County, up 9 cents.

The New York state average Monday was $2.68 per gallon, up 7.6 cents from a week earlier, while the national average was $2.63, up 10.4 cents, GasBuddy reported. 

“With last week’s extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment.

“With the cold weather behind us, price increases should begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks,” De Haan said. “However, as we near spring weather, we’ll likely see another longer-term rise in prices begin as refineries start to transition to summer gasoline….”

New York state’s average gasoline price Monday was 18.6 cents higher than a month earlier and 4.4 cents higher than a year ago, according to GasBuddy. The national average was 24.2 cents higher than a month ago and 15.1 cents higher than a year ago.

Over the past five years, the average gasoline prices on Feb. 22 in New York state have been: $2.63 per gallon in 2020; $2.52 in 2019, $2.73 in 2018, $2.46 in 2017 and $1.94 in 2016. 

For live fuel price averages, go to fuelinsights.gasbuddy.com.

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