Oil prices increased last week on optimism that both European and U.S. economies are improving and will result in higher fuel demand.
Although the cost of oil has been on the rise since January 1, retail gas prices have remained relatively stable.
So far, gas prices have not surpassed year-ago levels; however, the cost for a gallon of gas inched back up again this week.
According to AAA’s Manager of Regulatory Affairs, Avery Ash, several factors have played a role in the increase in gas prices.
“This year, markets have kept an eye on recent episodes of violence in Algeria, prices have risen largely because of higher oil prices on the back of positive economic news, and regional refinery issues”, said Ash.
The national average price of regular unleaded gasoline is $3.34, 3 cents more than last week. Georgia’s average of $3.32 rose 2 cents, respectively.
The low price in Elbert County is $3.23 for regular unleaded. In Wilkes County $3.27 is the cheapest cost for retail gasoline, and in Lincoln County $3.29 is the low price for regular unleaded.