Metro Albany gas prices surpass state average

ALBANY — Gas prices in the metro Albany area did nothing to contribute to the “good life” of drivers in the region but plenty to fill the pockets of retailers, jumping 8.2 cents a gallon over the past seven days, settling at an average cost ($2.300) that’s higher than the state average ($2.299)

Retailers across the nation used the old “springtime bounce” and “summer blend maintenance” excuses as a way of explanation to account for increases that have prices at the highest they’ve been this year.

The price increase in metro Albany was significant given that prices rose only 2 cents a gallon to add to the statewide average and 2.7 cents nationally. The national average is now at $2.427 a gallon. Prices have risen a total of 16 cents via 18 consecutive days of increases.

“Pump prices have steadily climbed in Georgia, and that springtime bounce is far from finished,” Mark Jenkins, a spokesman for surveyor AAA-The Auto Club Group, said in a news release. “Normal spring factors like rising demand, refinery maintenance and the introduction of summer-blend gasoline should keep upward pressure on pump prices for the next couple of months. Gas prices generally reach their annual peak by Memorial Day, unless a hurricane or refinery outage threatens supplies. AAA forecasts prices will peak at around $2.75 before summer.”

The Albany MSA’s average price Monday was closer to the state’s higher prices, which were recorded in Brunswick ($2.46), Hinesville-Fort Stewart ($2.39) and Savannah ($2.36), than the low end. The least expensive averages in the state were in the Catoosa-Dade-Walker ($2.22), Warner Robins ($2.23) and Dalton ($2.24) metro areas.

According to GasBuddy, another surveyor, the cheapest station in Georgia was priced at $2.07 a gallon Monday, while the most expensive was $2.99 a gallon, a difference of 92.0 cents per gallon. The cheapest price in the country Monday was at $1.86 a gallon, while the most expensive was $4.99 a gallon, a difference of $3.13 a gallon.

“Gas prices continued to heat up across much of the country over the last week as every area of the country has now started the first step in transitioning to summer gasoline at the same time refiners continue maintenance,” Patrick DeHaan, the head of petroleum analysis for GasBuddy, said in a news release. “Looking at macroeconomics, rumors of a U.S.-China trade deal may push oil prices higher as it would likely lead to increasing economic growth rates in both countries and pushing demand for oil higher.

“Since gas prices bottomed out nearly two months ago, average prices are up 20 cents. We may see another 20-cent hike or so over the next two months, or perhaps greater if there are any refinery kinks that arise. We’ll still be in good shape for summer gas prices to be under their year-ago levels, so all is not lost.”