Gas prices drop slightly in Georgia, metro Albany

ALBANY — The average price of gas has risen about a half-dollar from its low this year but still projects to be perhaps the lowest in a decade as the summer driving season nears.

While the national average price has been above $2 for nearly two months, Monday’s average was a little over a penny more than last week’s.

AAA and GasBuddy.com each conducted surveys of thousands of national sales points. They showed the national average Monday at slightly more than $2.22 a gallon, up 1.5 cents or less from last week and less than 11 cents higher than last month. Year-to-year, the surveys show U.S. motorists paying 47.7-48.4 cents less per gallon.

Georgia motorists on Monday saw a decline in pump prices from the previous week on both surveys. AAA’s Daily Fuel Gauge Report had the average at $2.16, while GasBuddy’s was slightly higher at $2.167. Depending on the survey, Georgia drivers were paying 7.1-7.5 cents more than last month and 43.2-43.4 cents less than a year ago.

“Motorists are seeing some of the highest prices at the pump of the year,” said Josh Carrasco, a spokesman for AAA — The Auto Club Group. “Even though prices are up nearly 50 cents from this year’s low, drivers are on pace to see the lowest summer gas prices in over a decade.

“Volatility in both gas and oil prices are expected in the short term, but barring any unforeseen price spikes or fuel shortages, gas prices should peak within the next month or two, like they did last year.”

AAA officials noted that the International Energy Agency was reporting that global oil demand was up for the first quarter of the year, while expectations are that worldwide oil production growth will slow the rest of the year.

Will Speer, senior petroleum analyst with GasBuddy.com, said that U.S. gas prices last week looked to be decreasing — and did in 22 states — but that increases in the Great Lakes area, Rockies and Pacific Northwest offset the drops.

“So, as states struggled to agree on the movement of gas prices, the national average barely moved as a result, only increasing a penny per gallon in one week’s time” Speer said. “With the Memorial Day holiday two weeks away, it marks the kickoff to the summer driving season.

“Gasoline demand that has already been strong this year will undoubtedly see a huge seasonal increase in demand. This, paired with crude prices that continue to show signs of strength, is going to keep further pressure on gas prices this summer.”

AAA also breaks Georgia down by eight metro areas, including Albany, which ranked third-lowest Monday at $2.099, trailing August ($2.094) and Macon ($2.09). Atlanta had the highest average Monday at $2.199.

Albany motorists, meanwhile, were paying 3.1 cents less per gallon than last week and 3.9 cents more than last month. Compared to last year, Albany motorists were saving 38.2 cents per gallon Monday.