ATLANTA – Gas prices in Atlanta are up slightly over the past week, but industry experts are saying there could be a more dramatic rise in the coming months.
Nationally, the average price could hit more than $3-a-gallon for the first time in four years.
Why?
It’s all about supply and demand.
U.S. trade sanctions on the oil-producing nation of Iran take effect next month.
“That effectively is going to cut off a good portion of the crude oil that flows into the market,” says GasBuddy’s Patrick DeHaan.
The concern over a dwindling oil supply has already sparked an increase in the price of crude.
The impact on your wallet is significant.
The average car here in the US burns 600 gallons of gas a year.
At current prices, the average two-car family is spending $500 dollars more this year than in 2017.
If the average reaches $3, that same family would pay $740 more in a year than they did in 2017.
Here in Atlanta, where the average price is now $2.80, we can give thanks that we're not filling up in California. Gas there now averages $3.79 a gallon. Our neighbors in South Carolina have the cheapest gasoline in the nation at $2.60.
