Up and Down Movement Continues for Current Gasoline Prices in Georgia

The fluctuation in the current gasoline prices continues. The prices began to fall in April, started to increase again in the early parts of July and slightly dropped again in the past week.

AAA’s Jessica Brady said that although many macroeconomic factors are contributing to lower gasoline and oil prices, speculators citing geopolitical risk have kept these markets high and rising.

According to Brady, crude inventories of the U.S. recently rose by 3 million barrels, an unexpectedly high level not seen for 13 years, which signals poor demand. Moreover, there was also an unexpected drop in the demand for new houses in the United States in the month of June, with the weakest purchases since January.

Such signs should have resulted in cheaper gas prices today yet they did not.

In spite of the weak demand figures and lessened risk of conflict with Iran, markets continue to push the per barrel oil prices higher in hopes that the leaders of Europe will do something to boost demand.

Reduced market stability may be observed in gasoline prices throughout the remainder of August. Although the gas price today may possibly increase slightly this week, it will not spike the way it did in the first two weeks of July.

Fuelgaugereport.com shows that the most recent average price of regular unleaded in Georgia was $3.449 per barrel. That rate was higher compared to last week and last month by $3.398 and $3.132 per gallon, respectively. The average in the Atlanta area was $3.486 per gallon, a rate that is higher from last week’s $3.454 and last month’s $3.184.

Although the averages of the current gasoline prices are higher compared to last week, several stations in Coweta

were still selling regular unleaded at cheaper prices compared to the past several weeks.

Georgiaprices.com recently showed that at least four gas stations in Coweta sold regular unleaded at $3.24 per gallon and two more sold it at $3.27. However, a lot of the other stations offered regular unleaded within the $3.39 to $3.49 per gallon range.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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