Average retail gasoline prices in Savannah have risen 8.3 cents a gallon in the past week to $2.34 gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah.
The national average has increased 6.6 cents a gallon in the last week to $2.45, according to gasoline price website GasBuddy.com.
Prices Sunday in Savannah were $1.28.4 cents a gallon lower than the same day one year ago and are 5.3 cents a gallon higher than a month ago. The national average has increased 2.4 cents a gallon during the last month and stands $1.21.5 cents a gallon lower than this day one year ago.
“Oil prices saw notable gains last week, rising to new 2015 highs. That translated into some hefty gasoline price increases in some states, while none were left behind. All fifty states saw gasoline prices move higher,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “Largest price increases were witnessed in the Northeast and East, with New Jersey, Connecticut, New Hampshire, South Carolina and Massachusetts all seeing average rise over 10 cents a gallon.
“I would lay blame for these increases on over-sensitive traders, who bid oil prices higher last week after oil inventories rose at their smallest amount since January. Also entering the equation is that U.S. domestic oil output fell last week, perhaps a harbinger of what’s to come.”