The national average for regular retail gasoline on January 1, held the record for the highest average in history.
The national average on New Year’s Day was $3.29, 1 cent more than the daily average on January 1, 2012, which held the previous record.
Oil prices increased slightly last week after U.S. payrolls rose by 155,000 in December, more than the initial forecast of 152,000.
The nation’s unemployment held strong at 7.8 percent the lowest level since 2008.
However, gasoline stockpiles increased again, this time by 2.6 million barrels in the last week of December, more than expected.
According to AAA’s Manager of Regulatory Affairs Avery Ash, gas prices are not expected to set record breaking prices in early 2013.
“AAA continues to expect that gas prices in 2013 will average less than the annual record of $3.60, which was set last year.”
But he says that prices are still ticking upwards, thanks in part rising oil prices.
“While retail gasoline prices are currently rising at a slower rate than the start of 2012, the average is pressure higher by crude oil prices that have increased over the last few weeks”, said Ash.
The national average price of regular unleaded gasoline is $3.30, 1 cent more than last week. Georgia’s average of $3.32 rose 7 cents, respectively.
According to Motortrend.com, $3.19 is still the lowest price for regular unleaded in Elbert County, and $3.29 is the cheapest price for retail gasoline in Wilkes County.