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CSRA gas prices could keep rising until mid-June, experts warn

A new report on consumer spending shows inflation will be a problem for months to come. (CNN)
Published: May. 12, 2022 at 12:49 PM EDT
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AUGUSTA, Ga. (WRDW/WAGT) - The ordinarily busy travel season is here. But what you’re paying at the pump could mean a change in plans.

Although gas prices are hitting record highs, experts say they don’t expect people to stay at home this summer.

Record numbers of people are expected to take road trips and vacations this summer. But one obstacle is the rising gas prices.

THE RIPPLE EFFECT:

Experts say rising fuel costs are also contributing to high ticket costs for flights. And inflation is causing everything to go up in price: U.S. producer prices soared 11% in April from a year earlier. And food prices shot up nearly 9.5% last month compared to April 2021.

Georgia AAA says Augusta residents are paying 15 cents more than last week, $3.93 a gallon for regular unleaded gas. Across the Savannah River, drivers in Aiken and Edgefield counties are paying 17 cents more than they were paying a week ago,

“We’ve seen lows less than $2 a gallon to over $4 a gallon,” said Georgia AAA spokesman Garrett Townsend.

That includes crude oil, costing over $100 a barrel.

“Crude oil represents about 50% of what goes into gas prices,” said Townsend.

And prices at the pump are only expected to shoot up, thanks to higher demand with summer travel, plus the Georgia gas tax suspension ending at the end of this month.

LOCAL BUSINESS COVERAGE:

“Right between Memorial Day and Father’s Day as usually where we find peak pricing for the year and then a downward trend,” said Townsend.

Townsend says it could be the middle of June before we start to see prices go down at the pumps. In the meantime, he offers these tips for travelers.

“People overlook the basic things,” Townsend said, like “making sure their vehicle is maintained making sure they have the proper air pressure in their tires.”

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