After a holiday respite, Georgia gas prices are beginning to tick up again, with the average pump price for regular gasoline rising 7 cents last week to $3.32.
And the uptick is expected to continue this week, according to AAA spokeswoman Jessica Brady.
“Oil prices will likely remain between $90 and $95 a barrel in January, with gas prices inching up again this week,” said Brady.
She noted that the national average for regular gasoline on Jan. 1, $3.29, set the record for the highest average in history — 1 cent more than the previous record set on Jan. 1, 2012, Brady said. “Although the average for the start of January was the highest on record, the Energy Information Administration forecasts the annual average this year will be less than 2012’s annual average of $3.60.
Oil prices should dictate what happens next with pump prices.
Oil prices increased slightly last week after U.S. payrolls rose by 155,000 in December, more than the initial forecast of 152,000, Brady said. The nation’s unemployment held strong at 7.8 percent, the lowest level since 2008. However, gasoline stockpiles increased again, this time by 2.6 million barrels in the last week of December, more than expected, said Brady. A barrel of oil closed Friday at $93.09 on the New York Mercantile Exchange—$2.29 more than the week prior.
The national average price of regular unleaded gasoline is $3.30, 1 cent more than last week. Florida’s average of $3.39 increased 3 cents from last week and Tennessee’s average of $3.18 increased 6 cents from last week, Brady noted.
Drivers in Colorado, Minnesota, Oklahoma, Utah and Wyoming are paying below $3 a gallon on average. Hawaii remains the only state above $4. New York is the second-highest at an average $3.75 a gallon.
Find some of the the lowest gas prices in metro Atlanta at atlantagasprices.com.
