Georgia Gas Prices Reach $4, Moving Closer To Record High

GEORGIA — Gas prices are climbing in Georgia as the national average hovers around $4 per gallon for the first time in more than a decade. AAA said the average gas price nationwide is hit $4.06 a gallon.

Georgia's gas price ranks 25th in the United States, according to GasBuddy, which placed the state’s average tank of gas at $4 per gallon on Monday. California is the only state in the nation where prices have spiked past $5 per gallon so far after gas prices jumped over the past four weeks.

In Georgia, the average price for a gallon of regular gas was $3.96 on Monday, an increase of 8 cents in one day, according to AAA. Gas Buddy said the price was $4.01 a gallon Monday afternoon.

The cost of a gallon of mid-grade gas is $4.229, premium gas is $4.57 and diesel fuel is $4.59 in Georgia, AAA said Monday.

One week ago, the average price for gas in Georgia was $3.50 a gallon. One year ago it was $2.58.

Russia’s violent invasion of Ukraine has roiled the oil market, causing the global price of oil to spike and leading to higher pump prices in the United States, according to AAA.

The record price for regular gas in Georgia is $4.16 a gallon set on Sept. 15, 2008, AAA said.

“Motorists are feeling the pain at the pump and we’re still months away from the start of the peak summer driving season," said Ragina Cooper Ali, spokesperson for AAA Mid-Atlantic. "Although speculation can run awry, economic indicators continue to point to higher crude oil and gasoline prices for the remainder of winter and into spring.”

The average price of a gallon of regular gas Monday across Georgia was:

• Atlanta: $4.03
• Fulton County: $3.97
• Dekalb County: $4.04
• Gwinnett County: $3.96
• Forsyth County: $3.97
• Barrow County: $3.92
• Cherokee County: $3.94
• Cobb County: $3.94
• Paulding County: $3.87
• Douglas County: $3.90

The increases mark the largest price hikes since Hurricane Katrina hit the U.S. Gulf Coast in 2005, devastating the nation's oil and gas industry, according to CNN.

With prices rising at such a rapid pace, a national average of $4 a gallon will probably be reached soon, analysts say.

"This is not the end of it. We're already up another 14 cents on wholesale gas prices this morning," Tom Kloza, a global petroleum analyst, told CNN on Friday. "It's absolutely out of control.”

Overall, gas prices are up more than $1 from this time last year, according to GasBuddy.com.