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Local gas prices edge upward but diesel hikes could fuel inflation

Published: May. 2, 2022 at 2:31 PM EDT
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AUGUSTA, Ga. (WRDW/WAGT) - For the second week in a row, gas prices are up in Georgia and South Carolina, although the amount is small for regular unleaded gas.

That’s not the case with diesel, which is rising a lot faster across the board. And one expert says consumers will feel that in terms of higher prices for goods.

Prices Monday in Georgia are averaging $3.72 per gallon for regular unleaded, up 0.4 cent from a week ago, according to AAA. That’s still way down from the $3.88 per gallon the average Georgia driver was paying a month ago.

The weekly increase is a little steeper in Augusta, where the average price Monday is $3.75 per gallon, up about 3 cents from a week ago. Augusta drivers were paying an average of $3.85 per gallon a month ago.

Prices are averaging $3.85 per gallon in South Carolina, according to AAA. That’s up from $3.78 a week ago but down from $3.88 a month ago

The average driver in Aiken and Edgefield counties is paying $3.87 per gallon , up from $3.82 a week ago but down from $3.92 a month ago.

Two-state drivers are still getting a big break in price compared to the national average of $4.19 per gallon on Monday. That’s up from $4.12 a week ago and just a fraction of a penny short of the average price a month ago.

“Gasoline prices have continued their rally in the last week with oil prices sustaining higher levels, but the real story has been diesel fuel, which has skyrocketed to its highest level ever seen,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

For example, the average price of diesel in Georgia is $4.93 per gallon, compared to $4.78 a week ago,

“The meteoric rise in diesel prices is likely to continue for the first half of the week at least, while gasoline prices could continue to see a slow but steady rise,” De Haan said. “For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy.”

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