Local gas prices rise to 4-month high

Including the change in gas prices in Pennsylvania during the past week, prices Monday were 30.9 cents per gallon higher than the same day one year ago and are 14.1 cents per gallon higher than a month ago.

The average price for a gallon of regular gas in Montgomery hit a low of $2.11 before Christmas and has risen since, according to price tracking and analysis site GasBuddy.com. Membership-based Sam's Club and Costco gas stations near the Mall of Georgia have the lowest prices at $2.28 a gallon.

At $2.58, the national gas price is four cents more expensive on the week. That's about 32 cents higher than the same day past year.

"One remaining beacon of hope is that domestic oil production would ramp up sooner than later, and end the upward momentum on oil prices", Jenkins said. The Energy Information Administration (EIA) reports that the region is sitting on 55 million barrels of gasoline, the highest inventory for the region since early June 2017. Motorists were paying $2.38 for gas in New Jersey at this time a year ago. In fact, about half the price of gasoline is steered by the cost of crude, according to AAA.


The last time prices were this high in January was 2014, and they peaked at an average of $3.63 that summer.

Gasoline prices in Houston and elsewhere have reached some of the highest levels since Hurricane Harvey. Crude oil has been selling at very expensive rates the past few months. EIA's latest weekly report highlights that US crude inventories reached their lowest level in almost three years at 411.6 million barrels. "It's unclear exactly how the market will absorb these shifting fundamentals, but motorists may want to be ready".

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