It's costing more at the gas pump -, South Georgia News, Weather, Sports

It's costing more at the gas pump

August 11, 2003

Albany-- The price of gasoline in Albany shot up 6 cents per gallon overnight at many stations, and industry experts say more increases are on the way.

At the Woodall Store on North Slappey, Derek Pace fills up with unleaded. It costs one $1.33.9 per gallon. Pace noticed the cost increase. "Prices are ridiculous as it is. By it continuously going up, it's going to be a burden on a lot of people."

Many Oil refineries switch to produce heating oil in July, cutting the supply. Demand went up as Americans took vacations before the start of school.

Rising gas prices will not help an already struggling economy. Dr. Amit Singh, professor of economics at Darton College, said " The cost of transportation goes up, that means we pay more at the store, for everything. That's simple business. The cost of producing goes up as the energy price goes up."

The Lundberg survey said gasoline prices rose an average of four cents per gallon nationwide over the past two weeks. The average cost of a gallon of gasoline in the United States is one $1.59.

Store owners say competition is keeping Albany's gas prices the lowest in the state. Wright Woodall said "The customer is getting a bargain on gasoline in Albany, Georgia. When you are in Atlanta or Macon, you'll see gas ten or twelve cents per gallon higher."

 Derek Pace is hurt by the increase. "I don't have a choice. I've got to drive. I got to deal with it. It's tough, but I've got to deal with it."

Crude oil prices rose about two dollars per barrel, pushing up retail gasoline prices. And those pump prices are expected to increase more this fall. Nationwide, Gasoline is still 17 cents cheaper per gallon than this year's high of $1.76 in late March.

If you'd like to report gas prices in South Georgia, check out our Pump Patrol .

posted at 5:20PM by

Powered by Frankly