Dramatic fuel price increases were recorded in a number of states over the past week.
The year over year savings gap is diminishing as the national average price per gallon of regular unleaded gasoline has risen to $2.21.
The current national average represents only a nine cent savings over last year, and it is also an eight cent increase over last month, according to AAA. This recent fluctuation in fuel prices is being attributed to the recent closing of Line One of the Colonial Pipeline, which had sprung a leak earlier this month. The closing of the pipeline for maintenance caused gas prices in a number of Southeastern states to spike, rising seven cents or more week over week in Georgia, North Carolina, South Carolina and Tennessee.
Colonial Pipeline is now constructing a temporary bypass to restore flow of fuel to the Southeastern states, but, until it is completed, distribution issues will likely continue to drive prices upward, especially in the Southeast, and possibly the Mid-Atlantic region, AAA reported. The bypass is expected to be completed by the end of the week, and it should allow the pipeline to resume deliveries to the Southeastern states at that time. It is unclear when the pipeline will be completely restored.
Despite the recent fuel price increase, six states are still recording averages below $2, including Mississippi ($1.96), Texas (1.96), Missouri ($1.97), New Jersey ($1.98), Arkansas ($1.99) and Louisiana ($1.99), AAA reported.
While the national average of $2.21 per gallon is only three cents higher than last week’s average fuel price, a number of states have encountered dramatic price increases. AAA reported that tThe most notable increases were seen in Georgia (+21 cents), South Carolina (+13 cents), Tennessee (+13 cents), North Carolina (+11 Cents), Ohio (+11 Cents) and Indiana (+10 cents).