Gas Prices Higher Locally, Lower Nationally

For the second week in a row, average gas prices for the state of Georgia have varied about five cents between gasoline price research for AAA and GasBuddy.com, with the average prices for gas remaining in the $2.10’s with both agencies.

Last week in Elberton Ingles was at $1.98 at one point but is back up today at 2.09 along with Marathon at 2.09.
In Hartwell as of this morning Ingles was at $2.04 and Marathon at $1.98

AAA reports prices in the state averaged $2.18 a gallon, up fractions of a cent from last week and 19 cents more than last year; GasBuddy.com is reporting a $2.13 price for a gallon of gas, up a cent from last week.

Atlanta had the most expensive prices at $2.24 a gallon, with Savannah trailing behind at $2.18 and Athens at $2.13, according to AAA. The third highest price wasn’t far off from the second and third lowest prices in the state, with Albany and Macon both coming in at $2.10 and Augusta has the lowest price in the state at $2.05.

Augusta’s low price of $2.05 was a few cents higher than GasBuddy’s reported low of $2.01. Atlanta’s high price was closer, just a cent lower by GasBuddy’s report at $2.23.

As for oil prices, both outlets saw prices per barrel touch $50, with AAA pricing out a barrel at $49.71. “The upward climb at pumps across the country has largely continued as crude oil prices rallied and stand within striking distance of $50 per barrel,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “The rise in oil has come due to unrest and concern over the political outlook in Venezuela, a major supplier of crude oil to the U.S., due as well to Saudi Arabia’s export cut to six million barrels per day. Add on top of it U.S. oil inventories that have declined over 50 million barrels from March and you have a recipe for a continued rally in gasoline prices in much of the country. Watch for some volatility in oil and gasoline prices in the weeks ahead, especially with what’s going on in Venezuela. August will likely feature the summer’s highest gasoline prices.”

AAA also reported supplies decreased for the fourth consecutive week, falling by 7.2 million barrels to a total of 483.4 million. Production also declined for the first time in a month to 9.4 million barrels per day, which remains at a near record level – in June 2015, production was at 9.6 millions.

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