Georgia gas prices have plateaued following an unseasonable jump last week. Average prices rose six cents in five days, with Gainesville having one of the highest hikes with a nine cent increase.
AAA reports in their weekly fuel price reports that the average's steady climb stopped over the weekend, with prices averaging $2.41 on Sunday, fractions of a cent less than the day before.
"Our usual autumn pump price plunge was interrupted by rising oil prices," said Mark Jenkins, spokesman for AAA. "Fortunately, oil prices let off the throttle last week, allowing gas prices to find what appears to be solid ground. However, motorists should expect gas prices to linger at their current levels this week."
"Analysts warn that oil prices could be somewhat volatile this week, as the consolidation of power in Saudi Arabia leaves speculators questioning the impacts on global oil supply," Jenkins continued. "Fortunately, domestic oil supply and production made solid gains. If that becomes a trend, oil prices could drift lower and take gasoline prices with them."
"Analysts warn that oil prices could be somewhat volatile this week, as the consolidation of power in Saudi Arabia leaves speculators questioning the impacts on global oil supply," Jenkins continued. "Fortunately, domestic oil supply and production made solid gains. If that becomes a trend, oil prices could drift lower and take gasoline prices with them."
In the markets, Atlanta remained the highest at $2.45, but with Brunswick coming in at $2.44 and Savannah with a price of $2.43. AAA reports a shake up in Georgia's lowest prices, with Catoosa-Dade-Walker with the lowest price at $2.29.
GasBuddy.com, meanwhile, said gas prices have risen in the state , up 5.3 cents from last week to an average of $2.38 a gallon Sunday.
The two gasoline price trackers agreed that the trends were unusual. "If you use gas prices to figure out the time of year it is, you'd probably think it's spring based on the continued upward trend showing up in much of the country," said Patrick Dehaan, head of petroleum analysis for GasBuddy. "Absent is the beloved fall at the pump that we're used to that accompanies the fall weather, but apparently this year is playing a trick on motorists. The cheapest price this year was in July while the most expensive showed up after the driving season concluded as Harvey hit, and we may get closer to that mark as gasoline inventories continue to drift to new multi-year lows. It's been a lousy time for motorists, and I'd expect to see some cut their spending during the holidays as gas prices are up."
http://accesswdun.com/article/2017/11/605110/aaa-gas-prices-stagnant-after-unseasonable-jump