1:10 pm August 6, 2012, by Fran Jeffries
The gas price roller coaster continues its upward climb, jumping 8 cents in the past week in metro Atlanta. And motorists will likely see pump prices rise again this week, experts said.
Georgia’s average price for regular unleaded gas is $3.48. The national average price is $3.61, a 12-cent increase from a week ago today. Florida’s average of $3.53 and Tennessee’s average of $3.39 both increased 11 cents from last week.
“Early last week, it looked as though gas prices would stabilize,” said AAA South spokeswoman Jessica Brady. “Instead, news of more U.S. jobs pushed oil prices to $91 and regional gas prices jumped an average of 10 cents.” The U.S. added 163,000 new jobs in July.
Brady explains: “If you recall, just a few weeks ago, prices began to fall after European stimulus measures weren’t made, Iran’s threats to disrupt supply didn’t occur, and economic news remained lackluster.” Instead oil prices spiked after the Labor Department announced the new jobs and news of Tropical Storm Ernesto generated concern in the Gulf.
Oil prices settled Friday at $91.40 a barrel — $1.27 more than the week prior. Friday was the third consecutive week oil prices settled more than $90 a barrel, Brady noted.
“Last week shows just how volatile the market is and how diverse the factors are that affect oil prices,” said Brady. “The forecasted stability in gas prices as we entered August ended up being another 10-cent increase at the pump.
Check here for some of the best metro Atlanta gas prices. We found $3.29 a gallon at Gulf, 3046 Lawrenceville Hwy., Lawrenceville; $3.29 at Citgo, 8664 Tara Blvd., Jonesboro and $3.31 at QuikTrip, 1565 Pleasant Hill Rd., Duluth.
Get inside Atlanta's and national business news and how it affects you.
Vacation stops, manage subscriptions and more