Gas pump average hits highest level since September 2015

ALBANY — U.S. gas prices have reached their highest average in more than a year and a half as they head for a seasonal peak that should arrive around Memorial Day.

“The national average gasoline price climbed to its highest level since Sept. 5, 2015, on the $6-per-barrel rise in oil prices over the last few weeks, supported by last week’s decline in oil inventories and pressure from geopolitical tensions,” Patrick DeHaan, senior petroleum analyst for GasBuddy.com, said.

GasBuddy’s Monday U.S. benchmark was $2.41 a gallon, less than a half-cent higher than the $2.407 on AAA’s Daily Fuel Gauge Report survey. Averaging the two national surveys, gas in the U.S. rose 1.3 cents over the past week and is 11.7 cents higher than last month. The Daily Fuel Gauge Report shows motorists were spending 29.4 cents more per gallon than they did on the same date last year.

Going into Easter weekend, AAA officials noted that gas in Georgia had gone up 13 cents over an 18-day period. On Monday, AAA had the average at $2.288, a half-cent higher than GasBuddy found on its Fuel Insights survey. Averaging the two surveys, the state’s motorists saw a 0.9-cent increase from the previous Monday and were paying 11.2 cents more than they were last month. Compared to last year, Georgia motorists are spending 19.8 cents more per gallon.

“Gas prices rode the wave of rising oil prices last week, pushing pump prices slightly higher in some regions before eventually stalling out over the weekend,” Mark Jenkins, a spokesman for AAA The Auto Club Group, said. “Motorists should expect more volatility at the pump throughout the next couple of months, as prices are poised to gain another 30 cents by the summer.”

Jenkins has said AAA officials expect the national average, barring unforeseen developments, to top out around the $2.70 mark during the summer driving season.

DeHaan said the peak could come in the next few weeks.

“While some states in the Great Lakes area saw average gasoline prices ease after leading the nation by rising double digits each of the last two weeks, most of the country saw a continued rise,” DeHaan said. “However, the national average may reach its peak for the year in the next few weeks, barring major escalation in Syria, as refiners have generally concluded seasonal maintenance work and summer gasoline’s May 1st deadline for refiners is just around the corner.

“While average prices are far below their five-year average, they remain notably higher than last year. Today (Monday) shows just 405 gas stations in the U.S. selling gasoline at $2 per gallon or less, a far cry from a year ago when over 80,000 stations were at the level.”

In metro Albany, the Daily Fuel Gauge Report had the MSA ranked in the middle of the pack in the state at $2.266, up 3.3 cents in a week and 14.4 cents over March 17. Last year, metro Albany motorists were paying 10.8 cents less per gallon at $2.058.

Only one Georgia metro area — Atlanta — saw a week-to-week decrease on the AAA survey, a drop of four-tenths of a cent. That was enough for metro Savannah to edge it out for the highest average among Georgia eight largest metro areas at $2.319.

The biggest week-to-week jump on the AAA survey for the Georgia MSAs was in Augusta, which still had the lowest average — $2.202 — despite seeing average pump prices increase 4.7 cents over the seven-day period.