Metro Atlantans could be feeling sticker shock at the gas pump for days to come due to disruptions in supplies as refineries switch over to summer fuel blends and other influences.
The average price for a gallon of regular unleaded Wednesday in metro Atlanta was $3.725, compared with $3.65 a week ago and $3.416 a month ago, according to AAA’s Daily Fuel Gauge Report. Metro Atlanta’s average price for regular was higher than the state average of $3.695 and national average of $3.693.
According to Gasbuddy, the lowest price for regular Wednesday was at Costco at Cumberland Mall in Cobb County, where a gallon could be pumped for $3.52, assuming you’re a Costco member. The next lowest price, $3.62, was at a Sam’s Club at 2901A Clairmont Road in Atlanta.
Average metro gas prices for mid-grade, premium and diesel also remained noticeably higher than a month ago.
Consumers aren’t the only ones being squeezed by higher pump prices, according to Jim Tudor, president of the Georgia Association of Convenience Stores.
“People have less money, and when they have less money, they have less money to spend inside the store,” Tudor said. “And, in our world, that’s where we’ve got to have the business, because it’s not there in gasoline.” He said profit margins inside stores are higher than margins at the pump.
Tutor also said consumers tend to use credit cards more when gas prices rise, which means retailers pay more in card transaction fees, which can’t be passed along to customers.
Refineries have been switching from fuel blends that allow vehicles to start more easily in colder weather to blends that are less pollutant in warm weather, according to the Association for Convenience and Fuel Retailing.
In its weekly report, AAA said ongoing geopolitical tensions between Russia and Ukraine “remain a central reason for crude oil prices remaining elevated, which has contributed to higher gas prices.”
With the arrival of spring and then summer, seasonal demand also will push prices higher. According to the Association for Convenience and Fuel Retailing, prices at the pump historically peak between May 9 and May 24, before Memorial Day, which is May 26.
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