AAA: Gas prices jump quicker than expected in February - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

AAA: Gas prices jump quicker than expected


Both oil and gas prices are increasing and expected to keep moving higher throughout the month, according to AAA's Daily Fuel Gauge Report.

Some areas have already seen gas prices jump 5 to 15 cents per gallon.

The national average price of regular unleaded gasoline is $3.51, which is up 16 cents from last week. Georgia's average rose from $3.45 to 13 cents.

AAA's Daily Fuel Gauge Report attributes the faster than expected price increase to a positive economic outlook, supply issues, refinery maintenance, and preparation for the summer fuel.

"Motorists can expect to see gas prices increase this month," said Jessica Brady, AAA spokeswoman of The Auto Club Group. "Refineries have started to prepare for maintenance season and the switch from winter to summer grade gasoline. Refinery output has already seen a reduction. In addition, positive economic news has led to an increase in oil prices which also translates to higher prices at the pump."

A barrel of oil closed Friday at $97.77 on the New York Mercantile Exchange, that's $1.89 more than previous week. 

See the AAA's Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices.

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