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Gas prices still rising, up by eight cents this week


  • By Joe Adgie
  • |
  • Oct. 26, 2021 - 1:59 PM

Gas prices still rising, up by eight cents this week

The Newnan Times-Herald

Gas prices are continuing to climb at an alarming rate, both in Coweta County and across the rest of the country.

According to AAA’s gas price tracker, the average price of regular unleaded in Coweta County was $3.229 on Tuesday, up eight cents from last week’s average of $3.149. Two weeks ago, the average was $3.053, and three weeks ago, the average was $2.983.

Statewide, the average price has also gone up around eight cents, sitting at $3.244 on Tuesday compared to $3.168 last Tuesday. Two weeks ago, the average was $3.074 and three weeks ago, the average was $2.994.

A month ago, the average price sat at $2.990, and a year ago, the average was $1.981.

In the metro Atlanta region, the average price of regular unleaded was $3.253, up from $3.171 last week and $3.072 two weeks ago. Three weeks ago, the average price was $3.007.

A month ago, the average price was $3.008 and a year ago, the average was $1.989.

Across the country, the average price of regular unleaded climbed nearly five cents over the last week, going from $3.340 last Tuesday to $3.389 this Tuesday. Two weeks ago, the average was $3.279, and three weeks ago, the average was $3.204.

One month ago, the average price was $3.187 and a year ago, when demand for gasoline was much lower due to the COVID-19 pandemic, the average price was $2.160.

The price of gasoline has hit highs not seen since 2014, according to an AAA spokesperson.

“With the U.S. economy slowly recovering from the depths of the pandemic, demand for gas is robust, but the supply is tight,” said Andrew Gross, AAA spokesperson, in a press release. “We haven’t seen prices this high since September 2014.”

According to AAA, global oil production is still below pre-pandemic levels. Total domestic gasoline stocks decreased by 5.4 million barrels to 217.7 million barrels last week, while gasoline demand increased from 9.19 million barrels a day to 9.63 million barrels a day.

In addition, the price of WTI Crude, the U.S. indicator for crude oil prices, has continued to climb. Around 10:30 a.m. on Tuesday, the price of crude hovered around $84 a barrel.