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Gas Prices Back On Upward Trend

After a slow but steady drop since Memorial Day, gas prices bottomed out at a national average of $3.55 a gallon before heading back up again.

After a steep climb and flirting with $4 a gallon, the gas price appeared to be moving in the right direction for a while. From just before Memorial Day until the end of June, prices were headed downward and by the beginning of July the gas price was back down to $3.55 a gallon nationally and about $3.42 locally - but that trend was short lived. For most of the month of July, prices have been headed back up with the national gas price July 25 up to $3.68 a gallon. This price is also about a dollar up from what it was the same time last year. 

According to a report in International Business Times, this is linked to the price of crude oil, which is almost back up to $100 a barrel. This has significant consequences for the U.S. economy with every $1 per barrel rise in oil decreasing U.S. GDP by about $100 billion per year. Also, every 1 cent increase in the cost of gas at the pump is reported to decreases U.S. consumer disposable income by about $600 million a year.

The following are the lowest gas prices in July 25 as per Gasbuddy.com.

C, 3340 Langley Rd & US 78,  -  $3.67

, 700 US 78 & Langley Road,  -  $3.67

, 4231 Atlanta Hwy near Logan Dr.  -  $3.68

 

The following are the lowest gas prices in July 25 as per Gasbuddy.com

, 2693 GA-20 & Cooper Rd  -  $3.73

, 2705 Loganville Hwy & Cooper Rd

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