Gas Prices Surpass Year Ago Levels

February 20, 2013

Retail gas prices recently surpassed year-ago levels and motorists are now paying more for a gallon of gas than they did in 2012.

Nationally, the average price for a gallon of regular retail gasoline is 13 cents more than this time last year.

According to AAA’s Manager of Regulatory Affairs Avery Ash, the price increase is earlier and higher this year.

“This year’s run up is not only larger and faster than recent years, but it is beginning earlier”, says Ash. “One reason for the earlier price increase is refineries performing seasonal maintenance and making the switch to summer blend fuel production.”

Multiple factors have converged to cause both oil and gas prices to increase.

Typically, pump prices increase this time of year as a result of the summer blend switch and refinery maintenance.

However, a severe snowstorm in the Northeast, continued concerns over Iran’s nuclear efforts, and economic news have caused prices to move higher than initially forecast for this time of year.

The national average price of regular unleaded gasoline is $3.71, 13 cents more than last week. Georgia’s average of $3.64 rose 17 cents, respectively.