View Mobile Site

Gas prices are going back up

Cost expected to continue rising during summer

POSTED: July 16, 2012 11:20 p.m.

Between driving to job sites, chauffeuring the kids to day camp, mowing the grass and his wife driving to work, Kenny Stephens said his family uses a lot of gas.

Stephens said he expects prices to increase through the rest of the summer, but he isn’t looking forward to it.

“If it does, it’ll be like being in (between) a rock and a hard place. I guarantee you that,” he said.

He said it seems prices always start to rise this time of year.

Patrick DeHaan, senior petroleum analyst with GasBuddy.com, said this trend is typical for summer prices, “almost to a T.”

“Gas prices peak in April or May, bottom out in June or very early July and then tend to come up in August at the start of hurricane season. The trend that we’re seeing is perfectly normal from what I’m seeing looking back at past years,” DeHaan said.

The average gas price in Georgia rose 6 cents since last week to $3.27 from $3.21. The national average price of regular unleaded gas is up 2 cents this week at $3.40 a gallon.

While the cycle may be expected, it still causes some confusion.

Allene Kelley and her husband, Neil, stopped to fill up their tank Monday afternoon at the Chevron gas station on E.E. Butler Parkway.

Kelley said she understands that prices are set by supply and demand, so naturally prices will go up when there are more people traveling in the summer. She said she also understands there are often political and international reasons for fluctuating prices.

“The problem is that (prices) seem to go up and down without a real clear reason,” Kelley said.

A statement released by AAA said the price of a barrel of crude oil rose $2.65 to $87.10 because of tightened sanctions against Iran and speculation that China will try to stimulate its economy.

“The market is still in a balancing act with slow economic growth and tensions with Iran keeping equal pressure on the market,” Jessica Brady, AAA spokeswoman, said in a written statement.

“Retail gas prices are likely to inch up again this week, a trend motorists could see continue throughout the month,” she said.

While the price has gone up recently, it is 1 cent lower than it was a month ago. This time last year the average price of gas in Georgia was $3.66.


Contents of this site are © Copyright 2010 The Times, Gainesville, GA. All rights reserved. Privacy policy and Terms of service

Powered by
Morris Technology
Please wait ...