Average U.S. gas price rises above $2 per gallon
Prices are expected to continue their increases, experts say
By Jim Hendricks
ALBANY — For the first time in nearly three months, the average cost of a gallon of gas in the United States hit the $2 mark.
Officials with AAA Auto Group, which monitors thousands of U.S. gas stations, said the national average hit $2.04 Sunday, the first time its survey had seen the U.S. average above $2 in 83 consecutive days. GasBuddy, which also surveys thousands of stations nationwide, also had Sunday’s price pegged at $2.04.
“Gas prices keep pushing higher due to upward pressure on crude oil, supply and demand, and refinery maintenance season,” said Mark Jenkins, AAA spokesman, who noted the weekly crude oil price had gone up for six straight weeks. “The weekly average price of oil shifted higher by nearly $2 a barrel last week, signaling what could be another 5-cent hike at the pump.
“Although pump prices should rise more in the coming months, they will likely remain lower than year-ago comparisons.”
Patrick DeHaan, , senior petroleum analyst for GasBuddy, had a similar assessment.
“The rise in gasoline prices comes as refinery maintenance begins kicking into high gear,” DeHaan said. “It’s not a fun time to be filling up as gasoline prices see their typical seasonal rise. However, this year’s jump thus far has seen average prices remain well below year ago levels across much of the nation.
“As crude oil prices fell gently last week back under $40 per barrel, motorists shouldn’t necessarily expect the worst increases to be over just yet. Until the bulk of refinery maintenance season wraps up in late May, we likely won’t see the lower oil prices immediately bring relief to the pump as oil and gasoline inventories continue to move in the opposite direction. Last week, the Energy Information Administration pointed to a huge 9.4 million barrel rise in oil inventories while gasoline inventories fell nearly 5 million barrels, which points to continued tightness in supply and likely a continued rise in gasoline prices for the time being.”
On Monday, AAA’s Daily Fuel Gauge Report has the national average at $2.039, up 5.6 cents from the previous Monday and 29.3 cents higher than last month. Year-to-year, gas was selling 38.7 cents a gallon cheaper. GasBuddy had the average at $2.041, up 5.3 cents in a week and 29.2 cents from last month, but 39 cents cheaper than last year.
In Georgia, GasBuddy’s survey had the state average Monday at $1.995, up 5.1 cents in a week and 33.8 cents in a month. The average was 22.9 cents cheaper than last year. AAA had the state’s numbers Monday at $1.99, up 4.9 cents in a week and 33 cents higher than last month. Compared to the same date in 2015, AAA said, motorists were paying 23.6 cents less per gallon.
AAA’s Daily Fuel Gauge Report also examines eight Georgia metro areas, including Albany, which ranked fourth highest Monday at $1.989, up 14 cents per gallon in a week and a 28.8-cent jump from last month. Last year, metro Albany motorists were paying $2.217, 22.8 cents more per gallon.
Savannah had the highest average cost Monday at $2.027, one of three metro areas above the $2 per gallon mark. Valdosta at $2.006 and Atlanta at $2.002 were the others. The cheapest average price among the Georgia metro areas Monday was Athens, which was at $1.929.