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Thursday June 22nd, 2017 11:27PM

Gas prices continue upward spiral

By Ken Stanford Reporter
UNDATED - Gas prices in Georgia increased another four cents last week, on average, and, since the first of the year, have now risen 20 cents.

AAA Auto Club South says the average price for regular unleaded Monday morning was $1.73. In the Gainesville area, according to gasbuddy.com, the cheapest prices are in Cornelia ($1.62 at one outlet); Suwanee ($163 at one station); and, Winder ($1.64 at one outlet). In Hall County, one outlet in Gainesville had it for $1.68, which gasbuddy.com reported as the lowest in the county.

AAA says for the third consecutive week crude oil prices have declined and retail gasoline prices drifted higher. Consumer demand remains weak and supply is so ample that offshore oil tankers are carrying millions of barrels of crude oil and going nowhere.

On the New York Mercantile Exchange (NYMEX) crude oil closed Friday, Jan. 2 at $46.34 per barrel; the following week on Jan. 9 at $40.83; and on this past Friday, Jan. 16, at $36.51 per barrel on the New York Mercantile Exchange (NYMEX).

Over the same period, when crude oil decreased by $9.83 per barrel, the national average price of gasoline increased 19-cents per gallon. In Auto Club South territory both Floridaâ
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