Pain at the pump: Expect to pay $4 a gallon by next week
If prices at the pump make you want to holla’ and throw up your hands, unfortunately it’s going to get worse before it gets better.
“Motorists can expect prices to increase well into spring, ” said AAA spokeswoman Jessica Brady. “If the trending continues like last year, we could see pump prices peak in May and then start to retreat.”
Since Jan. 1, retail gas prices have risen steadily in metro Atlanta from an average of $3.27 a gallon to $3.79 a gallon this week. The national average is $3.89 and could hit $4 by the first week of April – for the first time in history, according to Brady.
Georgia’s average of $3.79 and Tennessee’s average price of $3.71 both increased 7 cents from last week while Florida’s average of $3.90 increased 8 cents.
While motorists are feeling the pain, so are retailers, Brady said.
Retailer profit margins in Florida, Georgia, and Tennessee average 10 cents to the gallon, meaning the retailer will make less than $1.50 from the fill-up of a 15-gallon gas tank after paying credit card fees. About 76 percent of the cost of a gallon of gas goes to the cost of crude oil, 12 percent to taxes, 6 percent to refineries, and the remaining 6 percent is split between transportation costs and retailer profits, according to Brady. Track gas prices in and around Metro Atlanta. We found a low of $3.71 at QuikTrip, 7390 Jonesboro Rd & Battlecreek Rd. and a high of $4.19 at BP, 3004 Piedmont Rd NE & Pharr Rd.
For my birthday, I’m hoping someone will gift me with a gas card. I’m also cutting back on unnecessary driving to save gas.
What changes have you had to make to adjust to these high gas prices?
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112 comments Add your comment
MrLiberty
March 29th, 2012
6:30 pm
If you want to blame anyone, blame the Federal Reserve (and every elected politician that continues to support its existence). Gas prices are in fact NOT going up. If you were to look at the price of a gallon of gas in 1964, it was about 30 cents. If you were to look at the value of two 1964 dimes (90% silver content) you would find that they are worth well over $4. So in silver value, gas has actually fallen from its value in 1964. What has changed is the value of the US dollar. The dollar is worth FAR less than it was just a decade ago and that is because the Fed is printing money left and right out of thin air to bail out domestic and foreign banks and to allow the government to spend WAY more than it takes in. If we had a sound monetary system like Ron Paul endorces and would institute as president, we would see the value of our money staying even or even improving (as it did during the late 1800s when we were on a government manipulated gold standard (not something he endorces). Additionally we would see much higher interest rates for savings and the elimination of artificial credit driven bubbles like the great Depression, the DOT COM bubble or the housing bubble.
Gas is less than 20cents a gallon if you use money that holds its value. It is rapidly approaching $4 a gallon in worthless Federal Reserve Notes.
Which would you rather have – money that is worth something or money that is worthless?? Ron Paul 2012.
Rick
March 29th, 2012
6:32 pm
@Atl_native from another Atl native. We (the U.S) have cut consumption during the recession. Oil companies have shut down refineries to create a short supply of gasoline. Plus diesel and gasoline is being shipped to Europe. This is all about profit…Excessive Greed. This is NOT how Free Market works, which is what you are referring to aka Supply & Demand. We can drill baby drill until we are drowning in oil but it will not matter because oil is a traded commodity. Quit buying both parties propaganda bs. It’s all about GREED and POWER.
more refineries
March 29th, 2012
6:48 pm
Part of the problem is not enough refinery capacity. Not only do we need to expand drilling, but refinery capacity is not enough
monroe
March 29th, 2012
10:12 pm
the government needs to take over some of these big oil companies to get gas prices down. these prices are hurting minorities without money more than anyone–obama needs to do something now. I’m tired of this.
Sidspoon
March 29th, 2012
10:18 pm
Enter your comments here
Sidspoon
March 29th, 2012
10:24 pm
Gas prices are climbing rapidly because we have had a mild winter and have not consumed as much heating oil as the oil companies anticipated. They are raising the price at the pump to make up for the loss revenue from heating oil. There should be more regulations limiting the amount gas and oil prices can be raise in a given year. Now we are being gauged by the oil companies and the politicians lack the will to do anything about it.
Default Settings 2.0
March 30th, 2012
8:14 am
Craigslist has used refineries listed somewhere.
Trina
March 30th, 2012
8:43 am
Yeah, but be careful buying your used refineries on Craiglist, I got bedbuggs from mine.
Brian Carr
March 30th, 2012
1:33 pm
The volatility and the perceived lack of control over the price of gas is frustrating to commuters and employers alike. But we’ve been here before as a region. Look back to 2008 – when we experienced a rapid ascent to $4 a gallon in the spring, followed by a gas shortage in the fall – and more commuters sought relief from high gas prices + more control over the situation by choosing to drive less. Commuters made the switch to carpooling, vanpooling, riding transit, bicycling and even asking their boss for permission to telework occasionally. The Clean Air Campaign has free resources to help commuters find carpool partners, get a Guaranteed Ride Home from work and even earn financial rewards. Worth looking into your options at http://www.cleanaircampaign.org so you can make better use of your dollars, no matter what the price at the pump is.
iliketacos
March 30th, 2012
4:33 pm
Enter your comments here
bob walters
April 1st, 2012
2:54 pm
Democrats asinine refusal to open public lands to drilling is driving this country to bankruptcy. ALL public lands, INCLUDING Federal park lands MUST be opened for energy exploration. The Grand Canyon is one example of a treasure trove of rare earth minerals that could be relatively cheaply extracted given its configuration as a natural strip mine. Yet it remains a playground for the tree hugging libs while we pay through the nose to China. .. just one example.
All Republican candidates have stated they will open ALL Federal land for mineral and energy exploration. We need to put this country’s resources to good economic use.
Tea Party 2012!
monroe
April 2nd, 2012
11:56 pm
the government needs to take over some of these oil companies to get the prices down. Obama needs to order them to lower prices or he’ll take over.