Gas prices continue to increase but may be leveling off

Gas prices in Georgia saw some of the biggest increases nationally over the past week due to recent storms, according to gas tracking agencies.

 

Statewide, a gallon of unleaded regular saw a 7-cent increase and was at $2.76 Tuesday, according to AAA. Only Florida and Indiana incurred similar increases.

Though the price on average was lower in Augusta-Aiken at $2.65, the area saw a higher increase over the previous week of nearly 10 cents.

Overall, gas prices in Georgia on Monday were 62 cents per gallon higher than the same day one year ago and are 52.7 cents per gallon higher than a month ago, according to Gasbuddy.com. The national average has increased 30.4 cents per gallon during the last month and stands 48.1 cents per gallon higher than this day one year ago.

However, AAA reports the national gas price average for a gallon of regular unleaded seems to be leveling out, holding steady for the past five days at $2.67. Analysts with Gasbuddy.com report a similar trend.

“Harvey may be long gone, but his wrath continued to drive gasoline prices up in much of the country in the last week. However, the effects are finally starting to weaken as refineries return to production and fuel begins to flow once again from many Houston refineries,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “The national average gasoline price appears to have peaked last week Thursday at $2.67 per gallon and is beginning to slowly decline for the time being. Once again, motorists shouldn’t expect to see any impact from Irma on gasoline prices due to the path being a considerable distance from sensitive areas of the energy sector. With summer driving season now over, motorists stand to benefit from falling demand, which will help refineries bring gasoline inventories back to normal and thus gas prices, but, as many Americans are now acutely aware, the impact on gas prices can outlive a storm, especially one like Harvey.”

Average gas prices statewide

Regular Mid Premium Diesel

Augusta $2.65 $2.91 $3.142 $2.73

Albany $2.74 $2.98 $3.26 $2.68

Athens $2.75 $3.02 $3.246 $2.82

Atlanta $2.81 $3.07 $3.34 $2.82

Columbus $2.65 $2.92 $3.18 $2.68

Macon $2.67 $2.89 $3.17 $2.73

Savannah $2.66 $2.93 $3.17 $2.70

Valdosta $2.71 $2.94 $3.20 $2.74

Source: AAA

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Thu, 09/21/2017 - 22:23

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