Oil prices jumped early Monday, May 11, after President Donald Trump called Iran’s response to the U.S.’s latest proposal to end the war “totally unacceptable.”
According to the Associated Press, Brent crude gained 2.6% to $103.88 per barrel. It was roughly $70 per barrel before the war began in late February. Benchmark U.S. crude was 2.5% higher at $97.78 a barrel.
Meanwhile, average gasoline prices in Atlanta have risen 21.6 cents per gallon in the last week, averaging $4.09 per gallon today, according to GasBuddy‘s survey of 2,134 stations in Atlanta.
Prices in Atlanta are 39.2 cents per gallon higher than a month ago and stand $1.22 per gallon higher than a year ago. The national average price of diesel has increased by 0.2 cents from a week ago and stands at $5.623 per gallon.
Back in March, Gov. Brian Kemp suspended the state excise tax on motor fuel to address affordability concerns, but that suspension is due to expire on May 19.
The national average price of gasoline has risen 5.1 cents per gallon in the last week, averaging $4.48 per gallon today. The national average is up 37.3 cents per gallon from a month ago and stands $1.40 per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
AAA urged drivers to plan ahead, compare prices between stations, and use fuel-saving habits to reduce costs.
“Gas prices are staying high, and that’s making it harder for drivers to keep up,” AAA spokesman Montrae Waiters said in a statement. “With ongoing global issues affecting oil supply, we’re not seeing much relief right now. Drivers should continue looking for ways to save, like shopping around for cheaper gas and cutting back on unnecessary trips.”
AAA said Georgia’s current average gas price is closing in on the record high of $4.49 per gallon set in June 2022.
