Gas prices around the US rose an average of two cents during the past week, according to AAA, The Auto Club Group, which reports the national average price for regular unleaded was $2.28 per gallon on Sunday.
Mark Jenkins, spokesman for AAA, indicates, “Drivers continue to find gas prices that are well below what they paid this time last year. Low oil prices have helped keep gas prices relatively low so far this year. However, prices should bounce higher this Spring, as demand climbs and refineries switch to a more expensive-to-produce summer-blend gasoline.”
Jenkins continues, “AAA forecasts the national average to peak around $2.75 per gallon by Memorial Day weekend.”
Gas prices continue to hold steady in Georgia. Drivers are paying an average price of $2.14 per gallon, down fractions of a cent from last week. The state average has ranged between $2.14 to $2.17 for the past 20 straight days.
Georgia ranks 18th for least expensive gas prices among all 50 states and the District of Columbia. Despite averaging 10 cents higher than this year’s low, the state average remains 32 cents less than this time last year.
Crude oil prices trended lower last week. The US benchmark WTI settled at $52.64 per barrel on Friday, $2.62 per barrel less than the week before. This was the first weekly decline in crude oil prices in five weeks.
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