Why is gas getting more expensive?

Why is gas getting more expensive?
Gas prices are steadily rising (Source: Live 5/File)

ALBANY, Ga. (WALB) - Gasoline prices in Georgia have risen 6.1¢ per gallon in the past week, averaging $2.21 per gallon Sunday, according to GasBuddy’s daily survey of 5,883 stations in Georgia. This compares with the national average that has increased 4.2¢ per gallon versus last week to $2.38 per gallon.

Average gasoline prices on January 18 in Georgia have ranged widely over the last five years: $2.38 per gallon in 2020, $2.06 per gallon in 2019, $2.42 per gallon in 2018, $2.23 per gallon in 2017, and $1.79 per gallon in 2016.

Including the change locally during the past week, prices Sunday were 16.9¢ per gallon lower than a year ago and are 18.2¢ per gallon higher than a month ago. The national average has increased 15.6¢ per gallon during the last month and stands 17.4¢ per gallon lower than a year ago.

Areas around Georgia and their current gas price climate:

Augusta- $2.22 per gallon, up 3.7¢ per gallon from last week’s $2.18 per gallon.

Macon- $2.21 per gallon, up 8.2¢ per gallon from last week’s $2.13 per gallon.

Atlanta- $2.20 per gallon, up 2.6¢ per gallon from last week’s $2.17 per gallon.

“Gas prices have jumped to yet another multi-month high as crude oil price rise amidst perceived improvement in the COVID-19 pandemic, which continues to pump prices up as demand shows renewed signs of recovery,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “In addition, with rumors swirling that President-elect Biden plans to cancel the approval of the Keystone XL pipeline, which would cut off reliable Canadian oil to the U.S., oil prices may see additional pressure in the coming days. For now, the upward trend in gas prices may slow from the sharp rise in the last week, but motorists shouldn’t expect much of a break from rising gas prices, which now stand less than 20¢ from their year-ago levels.”

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.

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