Gas prices up 4 cents from last week

We don’t have to tell you that gas prices have jumped at the pump.

The national average for a gallon of regular gas is up 16 cents since July 1, according to AAA. Georgia’s average price of $3.40 is up 4 cents from last week; Florida’s average of $3.42 went up 2 cents and Tennessee’s average of $3.28 rose 6 cents from last week, AAA reported.

Blame the uptick at the pump on speculators, said AAA spokeswoman Jessica Brady.

This is how she explains it: Last week, U.S. stockpiles of crude oil unexpectedly climbed by 3 million barrels to the highest level in 13 years — a sign of weak demand. Demand for new houses also dropped unexpectedly in June. Despite the lackluster demand numbers and eased tensions with Iran, speculators continue to keep upward pressure on oil prices in hopes European leaders will take measures to stimulate demand, Brady said.

The good news: Prices should start to stabilize in August, she said. “Although gas prices will likely inch up this week, we shouldn’t see prices spike like they did during the first half of the month.”

Check here for the best gas prices in metro Atlanta. We found $3.28 at Unbranded, 1744 GA-138 NE & Sigman Rd. in Conyers; $3.29 at JJ’s Country Store, 3001 Country Walk Drive,  Powder Springs; and $3.30 at Shell, 2375 Shallowford Road, Marietta.

21 comments Add your comment

Diesel Hog

July 30th, 2012
11:25 am

I hope the speculators and investors trying to run up the prices lose their shirts over this. I’m all for free enterprise and anticipate the market will work it all out. Still better than the $7.00 per gallon I paid while in Europe.

Out here in Forsyth County...

July 30th, 2012
11:32 am

…gas prices on July 1 were $2.979 (Racetrac on Hwy 20 at GA400); today, at the same station, the price is $3.379 – and that is down from $3.439 last week. Can you say increases “above the national average”, like 24 cents per gallon higher; can anyone explain WHY – the explanation in the article useless, since a sign of “weak demand” should mean prices recede in order to increase demand…

Well, at least Delta Airlines...

July 30th, 2012
11:34 am

…,might recoup some of last months losses…

Saved

July 30th, 2012
11:35 am

Again, where is all the outrage from the liberals? They sure wern’t happy about high prices 4 years ago. Now not a peek from them. GO FIGURE!

Puzzled

July 30th, 2012
11:45 am

My question is. Tell me how gas prices take a month to drop 20 cents, but can go up 10-15 cents over a weekend. It only drops pennies at a time but rises 5-10 cents at a time. Just doesnt seem fair.

Y

July 30th, 2012
11:45 am

Corruption and Greed, plain and simple

Billy

July 30th, 2012
11:51 am

As much as liberals shill for mass transit, they should be on here yelling their heads off. They anticipate passage of the tax increase on Tuesday and must be over at the Grey Poupon Beltline taking measurements…

Sluggo

July 30th, 2012
11:55 am

When you have to have your fixx, you pay the price. We are nothing but oil junkies.

Common Sense

July 30th, 2012
12:01 pm

Mass transit is not a liberal or conservative issue. It is a factor in whether businesses find Atlanta a good place to locate.

Why is gas higher in Georgia when we have one of the lowest gas tax rates in the country? Something is amiss here.

LiasMom

July 30th, 2012
12:17 pm

In late June/early July, I read news news stories that said gas prices were going down based on decreased demand and would be below $3 by the fall. On July 4, I filled up in Duluth for $3.03. On July 5, I filled up the other car in Marietta, where prices were still 15 cents higher. Prices have been going up ever since. Now $3.49 at that same station in Marietta. How quickly the story changes.

Al Bundy

July 30th, 2012
12:17 pm

Clearly an election year ploy by the conservatives. Getting desperate.

Me Too!

July 30th, 2012
12:19 pm

Sluggo:

Get real! Its sad to read comments for the mentally challenged. Oil is a monopoly and should be judicated with huge fines when the speculators increase the price without demand.

David

July 30th, 2012
12:38 pm

I am an free market capitalist; if you really want to take the “speculation” out of the market make one simple rule. If you purchase oil futures you must take possesion of the oil before you can resell it. This takes away the motive of a large fund speculator by the simple process of stating if you want it you must take hold of it.

kjfdh

July 30th, 2012
12:39 pm

you are correct al bundy – the repubs want to raise gas prices so the poor can’t buy any and then they will kill everyone with poison air, water and food. then they will have all the oil and gas if they are not also dead. it is all bush’s fault.

Laurie

July 30th, 2012
12:45 pm

@Common Sense, good question. Why is gas cheaper in Alabama and Tennessee by .40 a gallon if Ga tax is so low? That is the news story I’d like to read.

Diesel Hog

July 30th, 2012
1:11 pm

David- Great idea. would still let the free market work it out, but eliminate price changes based on feelings instead of actual supply and demand. Yes, it is interesting how when oil goes up, we pay higher prices immediately, even when the gas/diesel in the ground tanks was already purchased by the station at a lower price. But when oil prices go down, the stores take forever bringing prices down. Oh well. I guess if I am too upset over it, I can just stop buying diesel and get a horse.

Diesel Hog

July 30th, 2012
1:39 pm

END SPECULATION NOW!!!! I’m betting that doesn’t happen any time soon. Anyone want to bet on it? I’m taking odds. :-)

Patrick

July 30th, 2012
3:25 pm

I heard a political talking head on the radio last week saying that Georgia has some of the cheapest gas and lowest gas taxes in the Southeast. They were talking about the TSPLOST and how/why everyone should vote yes. Maybe 10 years ago Georgia had the cheapest gas but not anymore.

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monroe

August 1st, 2012
11:21 am

the government should take over a bunch of these corrupt oil companies and lower the price of gas. I’m tired of paying these high prices so oil crooks can get rich.