Gas prices are on the rise as Americans prepare for a Labor Day road trip, according to the latest fuel price report from AAA.
The average price for a gallon of regular unleaded is 14 cents more expensive than last week in Florida, and 9 cents more expensive in Georgia and Tennessee. Motorists going to the pump will find the highest prices in more than 50 days.
The average price for a gallon of regular unleaded gasoline in Georgia this week is $2.16.
"Gas prices are responding to upward pressure from higher oil prices, refinery issues, and the threat of tropical weather moving into the Gulf of Mexico," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Fuel prices are likely to remain relatively volatile this week, but that's unlikely to be a major deterrent for travelers heading into Labor Day weekend."
Labor Day is traditionally the third-most traveled holiday of the summer travel season. An average of 30.3 million Americans took a road trip during the past two Labor Day holiday weekends. During last year's holiday, a gallon of regular unleaded averaged $2.29 in Florida and Georgia, and $2.14 in Tennessee. Should this year's prices remain below last year's levels, they would be the lowest Labor Day gas prices since 2004.
REGIONAL PRICES RISING
- Florida - 14 cents more than last week, 13 cents more than a month ago, 9 cents less than a year ago, $1.14 less than this time in 2014
- Georgia - 9 cents more than last week, 16 cents more than a month ago, 18 cents less than a year ago, $1.19 less than this time in 2014
- Tennessee - 9 cents more than last week, 13 cents more than a month ago, 15 cents less than a year ago, $1.18 less than this time in 2014
Gas prices have risen for 11 consecutive days in Florida (15 cents), 10 consecutive days in Georgia (13 cents), and 13 consecutive days in Tennessee (14 cents). The two main reasons for rising gas prices are higher crude oil prices, which are 16% more expensive than three weeks ago; and an assortment of refinery production problems, especially in the U.S. Gulf Coast where most of the country's gasoline is produced. Wholesale prices rose 5 cents late last week amid concerns that the low pressure tropical system - south of Florida - would move into the Gulf of Mexico as a hurricane, threatening refineries along the gulf coast and disrupting fuel shipments to Florida.
