Georgia Gas Prices: Refineries Recovering from Harvey; Irma Stirs Uncertainty
Wednesday, September 6th, 2017
Gas prices spiked during the past week in response to Hurricane Harvey's impact on the fuel refining region in the Gulf Coast. This left motorists with the most expensive Labor Day gas prices in three years. Just as operations in the Gulf Coast begin to recover, motorists are faced with the potential of another major storm.
The national average jumped 28 cents in the last 10 days.
Monday's average price of $2.64 per gallon is the highest since August 20, 2015.
Florida's average price rose 33 cents in the past 6 days.
Monday's average price of $2.64 per gallon is the highest since July 16, 2015.
Georgia's average price rose 44 cents in the past 8 days.
Monday's average price of $2.69 per gallon is the highest since June 23, 2015.
Tennessee's average price rose 40 cents in the past 8 days.
Monday's average price of $2.552 per gallon is the highest since July 5, 2015.
Refineries Recovering, Supply Stable in Southeastern U.S.
Refineries in Corpus Christi, Houston, Port Charles and Louisiana are recovering from Hurricane Harvey, and beginning move product again. In addition, Colonial Pipeline expects to fully restore operations to Line 1 of it's gasoline supply line on Tuesday. While the impact of Hurricane Harvey left some markets in Texas without gasoline, Florida, Georgia and Tennessee remain well supplied.
Gas Prices Leveling Off
"Gas prices are reaching a point where they should begin to plateau," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Wholesale prices are finally showing weakness, which will relieve upward pressure on the retail side. Unfortunately, for motorists in the southeastern U.S., they may not see prices move lower until Hurricane Irma is long gone.
"Retailers will not be in a big hurry to lower prices for a number of reasons," Jenkins continued. "For starters, retailers have the right to choose what they charge for gasoline. However, a state of emergency, like the one issued in Florida, prevents retailers from grossly raising prices beyond anything they've charged in the past 30 days. If they do, retailers have to prove justifiable cause, based on market trends."
Regional Gas Prices
Florida gas prices averaged $2.64 on Monday. The weekly increase of 32 cents is the 17th largest in the nation (Delaware was #1).
The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton ($2.74), Miami ($2.69), and Fort Lauderdale ($2.69)
The least expensive gas price averages in Florida are in Jacksonville ($2.61), Fort Myers-Cape Coral ($2.61), Tallahassee ($2.62)
Georgia gas prices averaged $2.69 on Monday. The weekly increase of 43 cents is the 2nd largest in the nation.
The most expensive gas price averages in Georgia are in Atlanta ($2.77), Athens ($2.68), and Albany ($2.63)
The least expensive gas price averages in Georgia are in Augusta-Aiken ($2.54), Macon ($2.56), and Columbus ($2.58)
Tennessee gas prices averaged $2.55 on Monday. The weekly increase of 39 cents is the 7th largest in the nation.
The most expensive gas price averages in Tennessee are in Nashville ($2.62), Knoxville ($2.56), and Clarksville-Hopkinsville ($2.53)
The least expensive gas price averages in Tennessee are in Memphis ($2.47), Johnson City-Kingsport-Bristol ($2.50), and Chattanooga ($2.50)