Georgia gas prices jump another 4 cents

Published 4:58 am Tuesday, January 31, 2012

Special to The Post-Searchlight

Average retail gasoline prices in Georgia rose 4.1 cents per gallon last week, averaging $3.45-per-gallon Monday. This compares with the national average that increased 4.5 cents per gallon last week to $3.39-per-gallon, according to gasoline price website

Including the change in gas prices in Georgia during the past week, prices Monday were 48.8 cents per gallon higher than the same day one year ago and are 25.3 cents per gallon higher than a month ago. The national average has increased 13.5 cents per gallon during the last month and stands 30.4 cents per gallon higher than this day one year ago.

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“Late last week we saw wholesale gasoline prices rise dramatically on some refinery issues, which leads me to believe that retail gasoline prices will rise in response,” said Senior Petroleum Analyst Patrick DeHaan. “We continue to also watch how Iran responds to EU sanctions — there are some concerns that they may cut oil to the European region before the sanctions are to take effect to cause these countries hardship when they can’t find new sources of oil quickly enough. That in itself could draw crude oil prices higher quickly at a moment’s notice.”