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Written by Matt Davis on September 5, 2017. Posted in News/Weather

Gas prices spiked during the past week in response to Hurricane Harvey’s impact on the fuel refining region in the Gulf Coast.  According to AAA, The Auto Club Group, 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 (Irma).

The national average price for a gallon of regular unleaded gasoline jumped by 28 cents in the past 10 days.  Monday’s average of $2.64 per gallon is the highest since August 20, 2015.

Georgia’s average of $2.69 per gallon on Monday was the highest for the state since June 23, 2015.  The state average has risen by 44 cents over the past eight days.

AAA Spokesman Mark Jenkins states, “Gas prices are reaching a point where they should begin to plateau.  Wholesale prices are finally showing weakness, which will relieve upward pressure on the retail side.  Unfortunately, for motorists in the southeastern US, they may not see prices move lower until Hurricane Irma is long gone.”

Jenkins adds, “Retailers will not be in a big hurry to lower prices for a number of reasons.  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.”

Suspected price gouging may be reported to the Attorney General’s Price Gouging Hotline at 1-866-966-7226.

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