Gasoline prices up 17 cents in Georgia – The Newnan Times-Herald

Gas prices have jumped significantly in the past week.

The state average is up 17 cents, beating the national average increase of 15 cents. But the actual increase in Coweta has been much higher.

The lowest price Wednesday afternoon along Hwy. 34 was $3.55, according to GerogiaGas-Prices.com .

Just eight days ago, regular unleaded could be purchased for $3.31, though most stations were offering it for $3.40 and higher.

From May to June, gas prices jumped 6.3 percent, according to the U.S. Department of Labor. That was the highest jump since February. That information was part of the Labor Department’s release on the increase in the U.S. Consumer Price Index.

The CPI rose 0.5 percent in June, with two-thirds of that increase attributed to gasoline prices.

Most of the increase in gas prices is caused by the increase in the cost of crude oil. And much of that appears to be influenced by the unrest in Syria and Egypt, particularly Egypt.

via Gasoline prices up 17 cents in Georgia – The Newnan Times-Herald.