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Gas prices rise 7 cents per gallon

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     Georgia, GA, March 7- Average retail gasoline prices in Georgia have risen 7.3 cents per gallon in the past week, averaging $1.73/g yesterday, according to GasBuddy's daily survey of 5,883 gas outlets in Georgia. This compares with the national average that has increased 6.8 cents per gallon in the last week to $1.81/g, according to gasoline price website GasBuddy.com.


     Including the change in gas prices in Georgia during the past week, prices yesterday were 56.4 cents per gallon lower than the same day one year ago and are 3.5 cents per gallon higher than a month ago. The national average has increased 7.6 cents per gallon during the last month and stands 64.4 cents per gallon lower than this day one year ago.
     According to GasBuddy historical data, gasoline prices on March 7 in Georgia have ranged widely over the last five years:
     $2.29/g in 2015, $3.29/g in 2014, $3.67/g in 2013, $3.69/g in 2012 and $3.42/g in 2011.
     Areas nearby Georgia and their current gas price climate:
Augusta- $1.66/g, up 9.5 cents per gallon from last week's $1.56/g.
Macon- $1.67/g, up 1.1 cents per gallon from last week's $1.66/g.
Atlanta- $1.75/g, up 10.3 cents per gallon from last week's $1.65/g.
     “Taking a cue from the prior week’s price rebound, retail gasoline prices continued its upward push by increasing nearly 9 cents per gallon on average nationwide," said Will Speer, GasBuddy senior petroleum analyst. "While most of the gasoline market was pricing in the premium associated with the transition to summer-blend gasoline, last week’s strength in crude futures prices provided no relief for the rising gas prices.  Although crude oil production fell to the lowest since November 2014, crude and petroleum stocks remain the highest ever recorded in US history.  This oversupply will provide a ceiling for gas prices over the next couple of months as spring refinery maintenance and the summer-blend gasoline transition put upward pressure on prices," he said.
     For LIVE fuel price averages, visit http://media.gasbuddy.com.

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