Gas prices rising with temperatures

ALBANY — The temperatures are getting higher and so are gas pump prices.

While there was a slight overnight drop in the national average Monday, national averages had risen for 11 straight days before that, AAA Auto Group reported.

Still, average prices across the board — nationally, across Georgia and in metro Albany — were substantially below 2015’s level for early March.

The national average Monday for the two major pump price watchers was $1.812 (AAA) and $1.814 (GasBuddy). Both surveys showed a week-to-week increase (6.3 cents, both surveys) and from last month (6.8 cents, AAA; 7.1 cents, GasBuddy). Year over year, the average U.S. gas price was 64.6 cents (AAA) to 64.9 cents (GasBuddy) cheaper Monday.

Still, expectations are that motorists will see prices above the $2 mark again when the summer driving season starts around Memorial Day. An abundant supply of crude oil may keep the pump inflation somewhat in check.

“Taking a cue from the prior week’s price rebound, retail gasoline prices continued their upward push by increasing nearly 9 cents per gallon on average nationwide,” Will Speer, GasBuddy senior petroleum analyst, said Monday. “While most of the gasoline market was pricing in the premium associated with the transition to summer-blend gasoline, last week’s strength in crude futures prices provided no relief for the rising gas prices.

“Although crude oil production fell to the lowest since November 2014, crude and petroleum stocks remain the highest ever recorded in U.S. history. This oversupply will provide a ceiling for gas prices over the next couple of months as spring refinery maintenance and the summer-blend gasoline transition put upward pressure on prices.”

AAA officials projected the increase to be up to a half-dollar a gallon for motorists.

“Shifts in the price of oil, supply and demand, and refinery maintenance, are all factors pushing gas prices higher,” said Mark Jenkins, a AAA spokesman. “Fuel supplies usually tighten this time of year as Americans begin taking spring vacations and refineries reduce output while conducting seasonal maintenance.

“These factors will likely push gas prices 30-50 cents higher by Memorial Day weekend.”

Closer to home Monday, motorists across Georgia were averaging $1.729 (GasBuddy) to $1.731 (AAA’s Daily Fuel Gauge Report), which was up about 7 cents a gallon from Feb. 29. Compared to Feb. 7, the state’s drivers were paying just over 3 cents more per gallon, but were saving more than 64.5 cents a gallon from last year.

The Daily Fuel Gauge Report also looks at Georgia’s averages by metro area, with Albany ranking fifth-lowest of the state’s eight MSA’s Monday with a $1.693 per gallon average. That was a slight decline from the $1.70 Albanians were paying Feb. 29, and 5.7 cents more than they were paying last month. Year-to-year, Albany motorists were paying 58.6 cents a gallon less than last year.

The most expensive average gas price for Georgia metro areas Monday was Atlanta’s $1.76. The cheapest was Macon, where drivers were paying an average $1.66.