Georgia gas prices rose to a state average of $2.78 per gallon this week as global market instability and seasonal refinery shifts began impacting local pumps. The national average also saw an increase, climbing five cents to reach $2.98 per gallon.
The price hike comes amid rising tensions involving the strikes on Iran and overseas developments that have pushed global oil prices higher. Additionally, fuel demand is beginning to grow in anticipation of upcoming spring travel, putting further upward pressure on regional costs.
The current price represents a nine-cent increase from last week and a 12-cent jump from last month. Despite the recent surge, Georgia drivers are paying 16 cents less per gallon than they were at this time last year. For those filling a standard 15-gallon tank, the total cost is now about $41.70.
AAA-The Auto Club Group identified several factors contributing to the price volatility, including international supply concerns and seasonal industry shifts.
Montrae Waiters, spokeswoman for AAA-The Auto Club Group, noted that refineries are currently transitioning to a more expensive summer gasoline blend.
“Gas prices are rising because instability in the global oil market is creating supply concerns that quickly influence prices here at home,” Waiters said. “At the same time, refineries are switching to the more expensive summer gasoline blend and demand is rising in anticipation of spring travel. With conditions changing quickly, it’s hard to know what’s next, which is why it’s a good time to follow the gas-saving tips provided.”
Price averages vary significantly across Georgia’s metro markets. The highest prices in the state are currently found in Savannah at $2.83, Atlanta at $2.81 and Valdosta at $2.80. Conversely, the least expensive fuel can be found in Rome at $2.66, Catoosa-Dade-Walker at $2.70 and Albany at $2.71.
While gasoline prices climbed, the cost for electric vehicle owners remained steady. The national average for electricity at a public charging station held at 39 cents per kilowatt hour.
Drivers of electric vehicles can monitor costs using the AAA TripTik Travel Planner to locate charging stations along their routes.
Fuel demand is expected to increase further as spring break travel begins next month. Drivers are encouraged to monitor day-to-day price fluctuations as refineries complete their seasonal transitions.
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