Motorist saw little change at the gas pump over the last week, according to AAA. Gas prices in Georgia only rose by one cent, bringing the average price to $2.25 on Monday.
Drivers in the Southern region continue to pay some of the nation’s cheapest prices at the pump. South Carolina ($2.14), Mississippi ($2.15), Alabama ($2.16), Arkansas ($2.16), Texas ($2.17), Oklahoma ($2.17), and Louisiana ($2.18) are all listed on the top 10 list of cheapest markets in the country this week.
Drivers have seen prices climb higher on the week in every state in the region except Kentucky and Florida. Although prices have moved up, the weekly increases were 3 cents or less in most states. The market remains well supplied with gasoline and prices are expected to continue to remain relatively low in comparison to other regions through the month.
The national average price of gas continues to increase, reaching today’s average of $2.37 per gallon, the most expensive average since June 2016. Gas prices have moved higher by three cents per gallon on the week and 17 cents per gallon on the month. Retail prices have increased for 40 of the past 42 days as a result of market reactions to the OPEC oil cut agreement. Traders and industry alike will keep a close eye on OPEC compliance as they await the release of the first output report which is expected in mid-February.
- The nation’s top ten least expensive markets are: South Carolina ($2.14), Tennessee ($2.14), Mississippi ($2.15), Alabama ($2.16), Arizona ($2.16), Arkansas ($2.16), Texas ($2.17), Oklahoma ($2.17), Louisiana ($2.18) and Missouri ($2.18).
- The biggest weekly increases are seen in Michigan (+9 cents), Pennsylvania (+8 cents), Delaware (+8 cents), Oregon (+7 cents), West Virginia (+6 cents), Washington (+6 cents), Alaska (+6 cents), Ohio (+5 cents), Virginia (+5 cents) and Maryland (+5 cents).