Both AAA-The Auto Club Group and GasBuddy.com announced this week that the average price of gasoline in Georgia is now above $2 per gallon.
Both agencies report the price is $2.03 per gallon, up four cents from this time last week.
AAA announced in its weekly prices brief that the national average price of gas has risen 36 of the past 40 days. Nationally, a gallon of regular unleaded is $2.06, up 2 cents from last week, but 34 cents cheaper than a year ago. Despite the rise in price, AAA said more than half of U.S. stations are selling gas for less than $2 per gallon today, while the most common price across the country is $1.999 per gallon.
AAA also released the following information in its weekly price report:
Lower gas prices have helped motivate Americans to drive at record levels.
- Americans drove 3.1 trillion miles in 2015, which was an all-time record and 3.5 percent higher than in 2014, according to estimates by the U.S. DOT. The latest estimates indicate that Americans drove 240.7 billion miles in January 2016, which was the most ever for the month.
- The EIA estimated gasoline consumption at 395 million gallons per day in its latest four-week average, which is about five percent higher than the same period a year ago and the highest for this time of year on record.
- There is a strong likelihood that road travel will continue to increase this year as long as gas prices remain low and there are no major economic problems.
- This year’s savings are in addition to the $120 billion that Americans saved over the course of 2015 compared to the previous year, which was about $565 per licensed driver.
- Today’s gas price savings are even more significant when compared to a few years ago. For example, the most expensive first quarter ever was in 2012, when prices averaged $3.58 per gallon. In comparison to that quarter, Americans have saved about $50 billion or $240 per licensed driver during the first three months this year.
Gas prices are on the rise, which is a trend drivers see nearly every spring.
- The national average price of gas has increased 36 out of the past 40 days for a total of 35 cents per gallon. Gas prices often increase 50 cents per gallon or more in the spring.
- Most drivers are paying $4-$9 more per gallon to fill up their vehicles on every trip to the gas station today compared to mid-February.
- Gas prices could rise by another 15-25 cents per gallon in many parts of the country by Memorial Day. At those levels, seasonal prices would still be less expensive than in recent years.
- Demand has increased this spring as the weather has turned warmer, and this increase comes at the same time that many refineries conduct maintenance to prepare for the summer driving season. Refineries conducting maintenance produce less fuel, which can lead to higher prices.
GasBuddy surveys 5,883 gas outlets in Georgia on a daily basis and found gasoline prices on April 4 in Georgia have ranged widely over the last five years:
$2.19/g in 2015, $3.47/g in 2014, $3.48/g in 2013, $3.84/g in 2012 and $3.52/g in 2011.
"The end of March last week capped a 30.5 cent per gallon jump in the national retail gasoline price average for the month. As prices now sit at the highest since November 2015, April brings the final phase of the transition to the more expensive summer-blend gasoline. Southern California was the first region in the United States to complete the summer-blend switchover on Friday, while the rest of the United States follows suit at the end of the month. Although gas prices are expected to continue to increase this week, improving refinery utilization has helped cool March’s feverish rise,” said Will Speer, GasBuddy senior petroleum analyst.
