Refineries are easing into maintenance season, which normally signals a gradual increase in prices at the pump. Throughout the past five years, gas prices rose 35-70 cents from February to Memorial Day, and motorists should expect the same this year.
"The seasonal increase hasn't begun yet, but it's coming," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Prices usually rise this time of year as refineries power-down some of their machinery for routine maintenance and prepare for the switch to the more expensive summer blend gasoline. Because of the outages, refineries don't produce as much gasoline. All this comes at a time when demand typically rises as Americans resume road trips in the spring."
Reports from the EIA show a 1-percent decline in capacity at refineries along the Gulf Coast. This region is a major resource for gasoline in Florida, Georgia, and Tennessee. Compared to a week ago, gasoline production levels in the Gulf Coast fell 7 percent and supply declined 2 percent. Meanwhile, demand has risen 2 percent.
Oil prices averaged $53.20 last week - the same average as the week before. OPEC's attempts to re-balance the oil market last year and cause higher prices, are being offset by increased US oil supplies. U.S. drillers added rigs for the sixth consecutive week. Domestic crude oil production exceeded 9 million barrels per day - the highest level since last April.
On average, the price for a full tank of gas is $8 more than this time last year. The national average price for a gallon of regular unleaded is $2.29 - just fractions of a cent more than a week ago, a half cent less than a month ago, and 56 cents more than a year ago.
Regional Gas Prices
Florida's average price for a gallon of regular unleaded is $2.277 - a half cent less than a week ago, 5 cents less than last month, and 54 cents more than last year.
- The top three most expensive Florida metro markets are West Palm Beach-Boca Raton ($2.46), Miami ($2.40), and Fort Lauderdale ($2.39).
- The top three least expensive Florida metro markets are Tampa ($2.17), Orlando ($2.19), and Jacksonville ($2.19).
Georgia's average price for a gallon of regular unleaded is $2.205 - 3 cents more than a week ago, 1-cent more than last month, and 57 cents more than a year ago.
- The top three most expensive Georgia metro markets are Atlanta ($2.24), Savannah ($2.21), and Athens ($2.19).
- The top three least expensive Georgia metro markets are Macon ($2.12), Augusta-Aiken ($2.12), and Albany ($2.15).
Tennessee's average price for a gallon of regular unleaded is $2.068 - a half cent more than a week ago, 2 cents less than last month, and 56 cents more than a year ago.
- The top three most expensive Tennessee metro markets are Nashville ($2.10), Memphis ($2.09), and Knoxville ($2.06)
- The top three least expensive Tennessee metro markets are Clarksville-Hopkinsville ($2.02), Chattanooga ($2.02), and Johnson City-Kingsport-Bristol ($2.05).
