AAA: Recent downward gas price trend won't last
Georgia gas prices have steadily declined during the past couple of weeks, but that downward trend is likely coming to an end.
Including the change in gas prices in Tennessee during the past week, prices yesterday were 21.5 cents per gallon higher than the same day one year ago and are 11.1 cents per gallon lower than a month ago.
Since last week gas prices have dipped one cent.
For the first two months of 2018, gas prices have been running higher than the last three years. However, the average price in the Syracuse area is $2.64, so a 40-cent rise would put it at a little over $3.
"Motorists will start to see gas prices make their spring spike in early April".
Now comes this warning from AAA: With refineries entering their seasonal maintenance period, when they switch to a more-expensive-to-produce summer blend of gas, motorists can expect to see significant upward pressure on prices at the pump as the calendar turns to March.
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The average retail price of regular gas in Chattanooga Sunday was $2.22 per gallon, or 28 cents per gallon below the USA average of $2.50 a gallon.
Slow down. The faster you drive the more fuel you use. Inventories are just 1.8 million below past year this week.
AAA expects summer gas prices to be just as expensive as spring prices, but with the potential that they may not increase at such a quick rate.
AAA's survey found a 36-cent range in prices, from a low of $2.339 to a high of $2.699.
As crude prices bounce around, US crude production continues to soar. "Even with the small drop-off, demand continues to register above 9 million b/d, which is a 4% year-on-year increase, according to the Energy Information Administration's latest report".
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