Monday, May 5, 2014
© Copyright 2014
Gwinnett Daily Post
Record levels of crude oil and gasoline production have caused local gas prices to hit their spring peak, a spokesman for the AAA Motor Club said.
Georgia’s average of $3.68 fell a penny since last week to match the national average for a gallon of regular unleaded gas. Around the Southeast, it’s the second straight week of declines for the cost of gas in Florida, and Georgia and Tennessee are expected to follow suit, said Mark Jenkins, spokesman for AAA.
“This is encouraging news for motorists who have seen prices steadily rise since February,” Jenkins said. “It is likely that gas prices have hit their spring peak, which often becomes the highest price of the year.”
The cheapest gas prices in Gwinnett on Monday morning were $3.54 at five stations in and around Lawrenceville.
Gulf Coast refineries, where most of the country’s gasoline is produced, have record levels of crude. Gasoline production also reached the highest weekly number ever reported, according to the Department of Energy. Most refineries are now fully operational after reducing their output during spring maintenance season.
The country is also past the May 1 deadline to switch to summer-blend fuel, which puts a strain on distributors.