Gas Price Peak in Sight Amid Increasing Supplies

| April 28, 2014

Gas-Prices-Upward-GraphicTAMPA, FL – The discount in gasoline continued in Florida this week, but prices increased in Georgia and Tennessee.

“Nationally prices continue to rise, but the peak could be in sight,” said Mark Jenkins, spokesman, AAA-The Auto Club Group. “We have seen wholesale prices in the Gulf Coast tentatively pull back, which could result in slightly lower pump prices.”

Refinery production has increased dramatically and there is hope that supplies will begin to build across the region. At this point there still is uncertainty in the market because other parts of the country, such as the Northeast, have particularly low supplies and this could affect drivers throughout the South. Because of this, any unexpected refinery disruption could result in higher prices.

Sunday’s national average for a gallon of regular unleaded gasoline is $3.70, 3 cents more than last week. Florida’s average of $3.74 fell 2 cents, Georgia’s average of $3.69 rose 4 cents, while Tennessee’s average of $3.52 rose 2 cents. Visit AAA’s Daily Fuel Gauge Report to find daily national, state, and local metro market retail gasoline prices.

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Current Week Ago Month Ago Year Ago
National $3.70 $3.67 $3.54 $3.50
Florida $3.74 $3.76 $3.62 $3.44
Georgia $3.69 $3.65 $3.39 $3.37
Tennessee $3.52 $3.50 $3.33 $3.26

Source: AAA

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1 Comment on "Gas Price Peak in Sight Amid Increasing Supplies"

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  1. Papi says:

    Gas prices will be on the downward trend till a week before Memorial Day weekend. WAKE UP AMERICA!!!