Spring arrives with lower-than-expected prices at the gas pump

ALBANY — There’s a big March madness upset going on, but more so at the gas pump than on the collegiate hardcourts.

Spring began Monday with the expected accompanying “sting” at the pump still being held at bay — at least for now.

“As oil prices have hit a bit of a rough patch in the last two weeks, gasoline prices have stumbled as well, with a majority of states seeing a weekly pull-back in retail prices,” Patrick DeHaan, senior petroleum analyst for GasBuddy.com, said Monday. “While some states did see minor increases, the bulk of the country saw prices moving lower at a time of year that such a move is about as likely as a 16th-seed team winning the NCAA tournament.”

GasBuddy and AAA Auto Club Group, which also surveys thousands of retail gas outlets nationwide, had the national average Monday around $2.293, down about a half-cent from March 13 and about a penny more than last month.

In Georgia, the two surveys had a half-cent spread Monday with GasBuddy’s the lowest at $2.161. In both cases, that was 2-2.2 cents cheaper than last week, depending on the survey, and about 1.5 cents cheaper than last month.

AAA’s Daily Fuel Gauge Report also looks at the state’s eight largest metro areas. Albany on Monday was at $2.112, putting it in the middle of the pack at fourth-lowest. That was flat compared to last week and 3.8 cents below what area drivers were paying last month.

The lowest average price in Georgia, according to the AAA survey, was in metro Augusta, which was at $2.076, followed by Macon, $2.101, and Valdosta, $2.111. Metro Savannah edged Atlanta by a tenth of a cent for the highest average in the state at $2.192.

In the past five years, gas prices have risen from 35 cents to 70 cents from the February low to Memorial Day. Experts say that while motorists are enjoying unexpected low prices, an eventual uptick is just a matter of time.

“While the drop at the pump is most welcome, we’re nearly guaranteed to see prices rebound well in time for Memorial Day and the start of the summer driving season,” DeHaan said. “For now, there’s a major tug of war going on with oil prices — a move higher or lower in the week ahead could determine the direction of prices the next few weeks or longer.”