Motorists, have you noticed?
Gas prices have inched up 6 cents a gallon during the past week in metro Atlanta, averaging about $3.45 a gallon on Sunday. But experts say we should expect prices to stay relatively unchanged for now.
“Retail gas prices will likely remain relatively unchanged this week as demand remains below par,” said Jessica Brady, AAA spokesperson, The Auto Club Group. She explains that the price of a barrel of oil closed below $100 for the second week in a row. Oil prices fell after the U.S. Energy Department reported gasoline consumption dropped to 8 million barrels a day – the lowest level since 2001. U.S. stockpiles of gasoline increased 3.7 million barrels last week to 227 million — a 10-month high. Oil prices settled Friday at $98.46 a barrel on the New York Mercantile Exchange — 24 cents less than the prior week.
“The demand fundamentals remain weak both in the U.S. and abroad, a main factor keeping oil prices below $100,” said Brady. “China’s manufacturing numbers fell for a third month and Europe’s debt issues continue to place bearish pressure on the market.
The 6-cents increase in average retail gasoline prices in Atlanta is close to the national average of $3.34 a gallon, according to gasoline price website AtlantaGasPrices.com.
Prices were 44.4 cents per gallon higher than the same day a year ago and are 36.5 cents per gallon higher than a month ago, according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. The national average has increased 11.8 cents per gallon during the last month and stands 25.3 cents per gallon higher than one year ago.
Lower than average prices have been spotted throughout metro Atlanta. GasBuddy.com reports regular unleaded gas for $3.15 at a Citgo 602 Dahlonega Hwy and Sawnee Dr in Cumming; $3.25 at a BP at 5265 Glade Rd SE in Acworth, and $3.27 at an EXXON at 5084 Old National Hwy & Godby Road in College Park.
How are these prices affecting you?