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Gas prices tick up last week

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JACKSONVILLE, Fla. – After falling for 37 consecutive days for total savings of 39 cents per gallon, the national average price for regular unleaded gasoline moved slightly higher reaching Monday's price of $2.29 per gallon. Retail averages are up one-tenth of a cent, but on the whole remain discounted with drivers paying the lowest average for this same date since 2004.

"Motorists saw gas prices inch-up last week, but this trend should not continue long," AAA spokesman Mark Jenkins. "Prices rose because gasoline demand remains elevated at a time when supplies are reduced as refineries enter their routine maintenance season. Price declines could stall over the next month, but should continue creeping lower through the end of the year."

Consumers are saving $1.05 each gallon compared to last year, largely due to the relatively low price of crude. The price of oil averaged $45.52 a barrel last week, which will help keep downward pressure on the price of gasoline.

Two dollar a gallon pump prices are becoming more prevalent at gas stations across the country. Twenty-one percent of gas stations nationwide are selling gasoline lower than $2 a gallon. Twenty-two percent of Florida gas stations are selling gasoline below $2 a gallon. Seventy-eight percent of Tennessee gas stations are selling gasoline below $2 a gallon. Only 9 percent of Georgia gas stations are selling gasoline below $2 a gallon. 80 percent of stations have prices between $2.00-$2.25.

Regional prices

National: The average price of $2.29 is the same price as a week ago, 24 cents cheaper than a month ago, and $1.05 lower than this time last year.

Florida: The average price of $2.14 is one cent lower than a week ago, 20 cents cheaper than a month ago, and $1.15 lower than this time last year.

Georgia: The average price of $2.15 is 2 cents higher than a week ago, 20 cents cheaper than a month ago, and $1.15 lower than this time last year.
 


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