Gas Prices Remain Stable, Expected to Increase as February Arrives

January 30, 2014

Gas prices remain stable for another week as January comes to a close.

Both the national average and Southeast gas prices are below last year’s cost for a gallon of gas.

U.S. inventories of crude oil rose for the first time last week after seven straight weeks of decreases, according to the Energy Information Administration.

AAA’s Manager of Federal Relations Avery Ash, says there is a good chance gas prices will climb as we roll into February.

“While retail prices have fallen slowly to begin the year, there is a good chance that prices will rise in February”, said Ash. “This increase is likely to be the result of refineries reducing production to conduct seasonal maintenance which can limit gasoline supplies and create market uncertainty.”

The national average for a gallon of regular, unleaded gasoline is $3.29, the same as last week.

Georgia’s average of $3.21 decreased 1-cent from last week respectively.

Speaking of stability, that remains the case in Elbert County, as the lowest reported gas price in the county held steady at $3.17.