Gas prices up 3.4 cents in the last week

Filling your tank will lighten your pockets a bit more this week as gas prices in metro Atlanta continue to climb.  Pump prices have risen 3.4 cents in the last week —  to an average of $3.48 a gallon on Sunday.

Analysts point to three main reasons for the uptick: a shutdown of multiple refineries across the U.S.; the continuing economic turmoil in Europe, and Iran’s threat to close the Strait of Hormuz.

“Although oil prices remain near $100 a barrel, retail gas prices continue to rise at a steady pace,” said Jessica Brady, AAA spokeswoman. “Concerns of dwindling supplies from refinery shutdowns in the U.S., at a time when gas demand is starting to improve are driving pump prices higher.” She said consumers are likely to see gas prices increase again this week.

Prices Sunday were 51.5 cents per gallon higher than the same day a year ago and are 28.9 cents per gallon higher than a month ago, according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. 

“We continue to also watch how Iran responds to EU sanctions- there are some concerns that they may cut oil to the European region before the sanctions are to take effect to cause these countries hardship when they can’t find new sources of oil quickly enough. That in itself could draw crude oil prices higher quickly at a moments notice,” DeHaan said.

Meanwhile, lower than average prices have been spotted throughout metro Atlanta. GasBuddy.com reports regular unleaded gas for $3.34 at Home Depot, 3355 N. Cobb Pkwy near Acworth;  $3.35 at an Ingles at 3701 Walt Stephens Rd & Speer Rd. in Stockbridge, and  $3.35 at a Marathon at 326 Cherokee St & Timber Lake Rd in Kennesaw. 

Find the cheapest gas prices in your area here.

122 comments Add your comment

SirReal

January 30th, 2012
1:15 pm

This is all a bunch of garbage. There are plenty of reserves worldwide with plenty of oil. They are using bs excuses to be able to cripple the pockets of people worldwide. I dont have respect for anyone involved. I told a friend to expect $4.25 gas by June. I dont think many of us can handle 5 dollars a gallon. That would cost an average of $70 to fill up!!!!!!! It’s getting critical out here….

PMC

January 30th, 2012
1:15 pm

Isn’t it more the embargo of Iran effecting global supply rather than any threats in the strait of Hormuz?

Steady

January 30th, 2012
1:18 pm

If gas goes above $4 and stays there through the election, the current administration will take the blunt of customer aggravation.

UGA 1999

January 30th, 2012
1:18 pm

SirReal

January 30th, 2012
1:21 pm

The sad thing is that they know we’ll just whine at the pump and accept it…..smh

carpetbagger

January 30th, 2012
1:21 pm

No change given to me when I fill up. I’ll see to a change this November!

UGA 1999

January 30th, 2012
1:22 pm

SirReal, there is nothing much more we can do, at least until November.

Aldo Raine

January 30th, 2012
1:23 pm

Well I think I could suck it up for awhile if it helps the current administration get put to the curb!

SirReal

January 30th, 2012
1:23 pm

@UGA 1999 I hear ya….I honestly dont know what to believe anymore sometimes.

UGA 1999

January 30th, 2012
1:23 pm

Hey Obama….I HOPE that when I give the attendant a $5 bill for a gallon of gas I can get CHANGE!

What do you say?

UGA 1999

January 30th, 2012
1:23 pm

Aldo….AMEN!

JD #6

January 30th, 2012
1:25 pm

This is the biggest scam to hit the face of the earth!!!!!!!!!! APEC are mobsters!!!

SirReal

January 30th, 2012
1:27 pm

@JD#6 Pretty much man….

Marlboro Man

January 30th, 2012
1:29 pm

It won’t change even is the president does, don’t act like a kid.

Gas-Pumper

January 30th, 2012
1:30 pm

The current administration should take the brunt of the gas customer frustration. What was the price of gas when this administration started? $1.84/gal. So much for big business and government controlling them. Thank the “Gas Lobbyists” for keeping gas prices high. And thank this administration for nixing the pipeline from Canada to Texas…there go thousands of jobs…and we get most of our oil from Canada. So the Chinese stepping in to build a pipeline to the Pacific Coast so they can ship the oil. Golly ghee Mr.President…thanks…

UGA 1999

January 30th, 2012
1:33 pm

Marlboro….”It won’t change even is the president does”…..Don’t write like a kid!

Crazy Talk

January 30th, 2012
1:34 pm

PMC….just a quick history note the US has had an embargo against all business and/or trade with Iran since 1995. So lack of oil from Iran hasn’t been an issue for many years.

The rising price of oil has to do with many factors, just a few examples are:
-control of the supply flow by the countries with the largest supplies
-speculation in the investment market
-lack of refineries in the US
-inflation, making the value of the dollar less
-supply and demand from emerging economics as other countries grow and develop a greater need
-taxes, US national tax 18.4 cents/gallon, state of GA 7.5 cents/gallon, + 4% sales tax on top of that. If gas cost was $1.00/gallon in Georgia we would actually pay $1.309/ gallon.

A large factor is the Obama administrations view point that we need to use less fossil fuels. Regulations against exploration for oil, new wells, and construction of new refineries and pipelines are a huge factor. For example with Obama announced he would kill the Keystone XL pipeline gas prices shot up the next day, about $0.10 where I live. And when Canadian company said they would look to China for refining prices when up another $0.05 a few days later.

Vince Doodley

January 30th, 2012
1:34 pm

Just watch. If this gets any higher, Oblama will release strategic reserves to articifically lower the cost of gasoline. This will definitely happen in an election year.

Blondie

January 30th, 2012
1:34 pm

Feeling relieved that I just moved closer to my job & that my boyfriend and I can now carpool. Just wish some idiot hadn’t hit my car last week. It had the better MPG. Oh well. OPEC isn’t going to get more money from us. Time for people to get serious about carpooling -not to save emissions. To save money.

rivercard

January 30th, 2012
1:35 pm

Yet, fuel was the leading export for US last year. Something does not jibe here.

They charge as much as they can get away with and wait until they feel a little heat from governement or public. Then bring prices down to a number higher than previous low. Wait a few months, then rinse and repeat.

Supply and demand, profit maximization and speculation. I really don’t know what you can do about it in a free market.

Marlboro Man

January 30th, 2012
1:35 pm

No editor, smart ass

Cutty

January 30th, 2012
1:37 pm

APEC…. It’s Obama’s fault… How informed you all are. I didn’t hear anyone blame Bush when gas prices suddenly skyrocketed during his administration. As a matter of fact, you all reelected him. Hannity and all the other GOP blowhards screamed how Presidents can’t alter gas prices. And it’s OPEC for the much informed JD.

Get over it. Seems like all those drill baby drill CEOs would rather shut down refineries and make their money by just raising gas prices. Don’t see any of you down in Texas having it out with the people that are truly responsible for this.

Cutty

January 30th, 2012
1:38 pm

Vince- Bush did the same thing in 2004.. But keep blaming it on the black guy.

http://www.businessweek.com/magazine/content/04_41/b3903049_mz011.htm

Jimmy

January 30th, 2012
1:39 pm

There is only one reason gas prices are high.BECAUSE THE OIL COMPANIES WANT THEM THAT WAY.If they want $10.00 a gallon they will charge $10.00 and there is nothing you can do about it except pay up or park your car.The politicians are bought and paid for by big oil period.If it will help get Obama out of the white house I will pay $20.00 per gallon.

The Dude

January 30th, 2012
1:41 pm

Blame the real problem, oil futures speculators. No party is going to reel them in. Change presidents all you want, but your best bet is to buy a hybrid car if you can’t afford the gas increases.

Truth

January 30th, 2012
1:42 pm

If you can’t afford to gas up your vehicle, maybe you should ride MARTA

Attention: Fuel consumption is a part of automobile ownership.

td

January 30th, 2012
1:42 pm

I have been saying for a few weeks if gas prices are over $4 per gallon in Oct then Obama will not be re elected no matter who the Republicans nominee is.

UGA 1999

January 30th, 2012
1:44 pm

Cutty….we are.

UGA 1999

January 30th, 2012
1:45 pm

UGA 1999

January 30th, 2012
1:50 pm

I wonder how this is going to play out in the election. Obama siding with criminals! AGAIN!

http://www.weeklystandard.com/blogs/obama-occupy-wall-street-we-are-their-side_598251.html

TheBigCat

January 30th, 2012
1:53 pm

Back in 2007 and 2008 I would laugh when I would hear Black people at the pumps at Quik Trip saying “George Bush got these gas prices high”. Funny how I don’t hear them blaming it on the current President.

Atlantan

January 30th, 2012
1:56 pm

For years I recall my prog friends claiming they’d like to see gas prices as high as Europe so Americans will consume less…. Obama’s plan is working.

I also recall left wingers going nuts on Bush when gas prices spiked back in 2008 – he was in bed with his oil buddies, Haliburton, Cheney, Koch Brothers, etc. He has been out of office for 36-months now obamabots so what is the problem?

markie mark

January 30th, 2012
1:58 pm

Blondie….that is exactly what Obama and the left want….this is social engineering thru the back door…

markie mark

January 30th, 2012
1:59 pm

Cutty, you cant drill if there are no federal permits allowing it…..get a clue

markie mark

January 30th, 2012
2:00 pm

“The Dude” is right….oil speculators drive up demand, sometimes as a by-product of trading futures, sometimes on purpose.

Chuck

January 30th, 2012
2:03 pm

“a shutdown of multiple refineries across the U.S.; ”
How about an explanation on why refineries are being shut down? Please don’t use worries about future oil supplies as a reason, there are financial instruments for the oil companies to use to hedge against such problems.

Bruce

January 30th, 2012
2:03 pm

Don’t understand gas prices at all. Not to far in the past, gas prices remain fairly constant not matter what the situation was in the world. Now it seems every time a tropical storm forms or some third world country rants about something the oil companies use it as an excuse to raise gas prices. Do the oil companies not own their own wells or do they just purchase the oil from others? It is fairly obvious that gasoline retailers depend on each other to set their retail prices. When one drops or raises their prices then the other does. Why do they have to call other retailers to “shop” prices before making a price change? In Dalton their are two Race Trac stores about 3 mile apart. They never have the same price. One changes it’s price to compete with Walmart and the other does the same to compete with Kroger. Get real guy, they found out several yrs ago that we would pay whatever they charged us and they will continue to raise prices.

Matt

January 30th, 2012
2:08 pm

It is evident none of you read the article.
The supply is abundant of oil.

The supply of gas is reduced. the question is…why have the refineries closed?

Catchers Mitt

January 30th, 2012
2:09 pm

High Oil Prices is still Bush’s Fault!

Arnold Ziffel

January 30th, 2012
2:09 pm

It comes down to manipulation of the oil market at the consumer’s expense. Given the heavy impact of oil prices on most people, there should be trading regulations and restrictions to protect us from this market manipulation.

In the end, our government employees will continue to fill up their vehicles on our dime for business and personal driving. What price does gas need to reach per gallon before we see reform in this area?

UGA 1999

January 30th, 2012
2:10 pm

Catchers Mitt….HAHAHAHAHA

Frank Furter

January 30th, 2012
2:13 pm

UGA 1999

January 30th, 2012
2:13 pm

Frank….AMEN!

Megawatt

January 30th, 2012
2:16 pm

You can thank the EPA for the refinery shut downs. Keep an eye on your power bills, they will soon be going crazy. EPA has declaired war on coal too!!! The greens are really pink on the inside.

UGA 1999

January 30th, 2012
2:18 pm

Megawatt….agreed….thanks Barack!

UGA 1999

January 30th, 2012
2:18 pm

The United States refines more than three times that of Saudia Arabia…We also have three of the top 9 oil producing refineries in the world!

http://en.wikipedia.org/wiki/List_of_oil_refineries

Comptonia

January 30th, 2012
2:19 pm

“Analysts point to three main reasons for the uptick:…”

They left off the fourth, and biggest, reason. We’re simply running out of oil. As the supply dwindles the demand (can you say China) surges. No complaint though, it’s been a great time to be an oil company shareholder and it’ll only get better.

TallaDawg

January 30th, 2012
2:21 pm

Alot of people just love to over-simplify a situation and ignore a thorough analysis. This is mostly (not totally) due to the fact that the price of oil is set by speculators OR the companies that refine oil. Both parties profit wildly if the price of oil and/or gasoline goes up. This is not Obama’s fault, even if a few newer regualtions do not allow the oil companies to rape the environment, the outcome would be very similar.

UGA 1999

January 30th, 2012
2:23 pm

Talladawg….Sorry dude but again you are wrong. The regulations set for by Obama and the EPA are driving oil prices up. Also, his war against competitiveness is killing the middle class american.

garyc42

January 30th, 2012
2:26 pm

its nothing but price gouging,but the government can get a way with it.Oil companies and our government are so greedy.