AAA: Gas prices rose 11 cents in 12 days

Gas prices in Georgia have increased the past 11 consecutive days for a total of 14 cents.

Georgia drivers are now paying an average price of $2.28 per gallon for regular unleaded – 9 cents more than a week ago, and 12 cents more than this time last month. Still, drivers are paying 10 cents per gallon less than this time last year.

So far this month, gas prices in Rabun County have averaged $2.19 per gallon, which is 8 cents more from January’s monthly average, yet 26 cents per gallon less than the monthly average in February 2018.

“Gas prices rose as predicted last week, due to crude price gains and oil refineries conducting seasonal maintenance,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gas prices may fluctuate over the next couple weeks, but will mostly follow an upward trend this spring, as demand rises and refineries switch to a more expensive summer-blend gasoline. AAA forecasts the national average should peak at around $2.75 by Memorial Day weekend. That opens the door for an average increase of another 35 cents this spring.”

Crude oil has a significant impact on gas prices. About half of what drivers pay at the pump is influenced by the price of crude. Crude prices have risen more than $12 per barrel so far this year. Last week, oil prices steadily climbed. On Friday, the U.S. benchmark, WTI, settled at $57.26 per barrel on the NYMEX – an increase of nearly $2/b compared to the week before. The price of WTI remains nearly $6 per barrel below last year’s levels.